Feelsgood Venture Fund Invests 5.6 Million Kuna in Croatian AgriTech Company Agrivi

The venture capital fund Feelsgood has signed an investment agreement with Agrivi, a Croatian agri-tech company that has positioned itself in recent years as one of the global leaders in software solutions for the digitalization of agriculture. With an investment worth 5.6 million kuna, Feelsgood closes the financing round that began last year when South Central Ventures, the European Investment Fund, the Croatian Bank for Reconstruction and Development, Fil Rouge Capital, and AgriTech Hub invested in Agrivi.

Feelsgood is the first Croatian venture capital fund managing 30 million euros in capital intended for companies with a social impact. A positive impact on society, the environment, or the economy is one of the fundamental criteria for investment, and the impact must be measurable and aligned with achieving some of the 17 UN Sustainable Development Goals.

– We are extremely pleased that we managed to realize another important investment in a domestic company just before the end of the year, whose platform truly makes a difference and ensures social benefits and sustainable food production. Its positive impact is not limited to our country but extends much, much wider, and we are particularly excited about this global dimension. Agrivi thus becomes a relevant part of our portfolio that we plan to continue expanding – said Dinko Novoselec, co-founder of the Feelsgood fund.

Agrivi today operates primarily in the global market with its solutions for the digitalization of agriculture. Their customers around the world optimize their agricultural production or the production of their cooperatives with the help of Agrivi software solutions in cases where companies purchase products from farmers for food or beverage production. The benefits that clients achieve are economic through savings, increased revenue, and profitability, but also social through the production of healthy, safe, and nutritious products using sustainable production practices.

The social impact of Agrivi is currently estimated to directly and indirectly reach over 100 million people and affects as many as 12 of the 17 UN Sustainable Development Goals. The company’s vision is to change the way food is produced and positively impact over a billion people. According to FoodTech 500, Agrivi is the world’s best company for digital and precision agriculture, and its solutions have been chosen by leading global companies in the food and beverage industry, such as Driscoll’s in America, Nestlé and BASF in Europe, Beam Suntory in Mexico, East-West Seed in Asia, and many others.

– We are glad that Feelsgood recognized our team, the products we develop, and the positive social impact we achieve in the world through our previous results and the potential that lies ahead of us. The products of our customers are consumed or used by more than 100 million people annually, and we are proud that these products, with the help of our solutions, are produced in a more efficient, safer, and sustainable way – Matija Žulj, founder and director of Agrivi.

Agrivi also plays an important role as an ambassador for the importance of digitalizing agriculture and through market education, not only in Croatia but also at the European and global levels. They collaborate with organizations such as EIT Food, Farming First, Women in Farming, European Carbon Farmers, and are also partners in the first digital agriculture study in Croatia launched at the Faculty of Agrobiotechnical Sciences in Osijek.

This year has been fruitful for Feelsgood as they recently invested 1.3 million euros in BE-ON, a domestic startup that assists blocked citizens. This investment, worth 1.3 million euros, will serve as a basis for expanding activities in consumer lending for socially excluded individuals in blockage. Additionally, in the middle of the year, Feelsgood also invested in the Croatian AI startup Mindsmiths with 1.2 million euros, which Mindsmiths used to further develop artificial intelligence.