Second blow for French Tech. After Sigfox, Agricool was placed in receivership on January 31 by the Commercial Court of Bobigny. Several buyers (whose names have not yet been published) have come forward, indicates the start-up to “Echos”.
Founded in 2015 by Guillaume Fourdinier and Gonzague Gru, Agricool originally offered to grow strawberries in containers. With a yield per square meter 60 times higher than strawberries in mass distribution, a vitamin C content of 30% above the average as well as a better sugar level, the young sprout made a very noticeable entry into the agricultural world. . It gradually extended its range with salads and aromatic herbs and its distribution network (100 stores in Île-de-France, including 80 Monoprix brands).
The concept has attracted many investors (XAnge, Kima Ventures, bpifrance, etc.) who have in total injected 35 million euros in the start-up, including 25 million in December 2018 . During this last round, Agricool had planned to produce several hundred containers by 2021. But lack of a viable business model, she was unable to achieve her goal. In 2020, it inaugurated a new model: an urban farm made up of 10 containers.
“We are giving ourselves a year to prove that this farm, which is probably the most advanced in the world in terms of technology, is viable both economically and ecologically,” said Guillaume Fourdinier at the time. In 2020, the young company registered a turnover of 162,000 euros for a loss of 7.72 million euros (2021 accounts are not yet available). The same year, Agricool resorted to partial unemployment and took out three state-guaranteed loans for a total value of 2.25 million euros.
Read the complete article at www.ebonyst.net.