Major funding for electric tractor
Seederal, start-up company from France, has raised 7.1 million euros funding from a group of investors. This will enable the company to accelerate the development of its electric tractor. Also, Seederal received a 3.7 million euro grant from the France 2030 investment plan. An initial funding round in 2022, along with support from Bpifrance, the […]
Seederal, start-up company from France, has raised 7.1 million euros funding from a group of investors. This will enable the company to accelerate the development of its electric tractor. Also, Seederal received a 3.7 million euro grant from the France 2030 investment plan.
An initial funding round in 2022, along with support from Bpifrance, the Brittany Region and Crédit Agricole du Finistère, enabled Seederal to develop the first prototype of its electric tractor. This new round of financing, following the success of the first field trials, is aimed at continuing the company’s R&D efforts and consolidate its position as a pioneer in developing low-emission ag machinery.
Technology for sustainable agriculture
Since its foundation, Seederal has developed a first prototype of a 160 hp electric tractor, and demonstrated the reliability of its electric powertrain. Currently, the company relies on an in-house team of 12 expert engineers and several industrial partners. This new funding validates the relevance of its technological concept and will enable Seederal to embark on the next phase of development of its innovation (at the heart of which is its chassis-battery system), the strengthening of its patent portfolio, and the launch of new prototypes in order to presenting its final model in 2026.
“The support we have received from the France 2030 program, the arrival of new renowned investors and the renewed confidence of our historic investors, are all strong indicators of the relevance of our approach. We recently reached a milestone by demonstrating that our first prototype developed the power needed for the most demanding applications. This round of financing will enable us to take the next step: confirming autonomy of our tractors for field applications”, declares Antoine Venet, CEO and co-founder of Seederal. With 11 million euros in secured financing, Seederal is accelerating its technological development and enter into series production. The team will considerably be strengthened over the next 18 months, both in their Rennes and Brest based facilities.
The investors involved in the deal, share the vision of a low emission agriculture: “The tractor is the pivot in farming, as it mostly part of all stages of the crop cycle: soil preparation, seeding, fertilization, crop protection and harvesting. The support of our financial partners, particularly specialists in the agricultural sector, and the backing of the France 2030 program demonstrate the importance of bringing a low-carbon solution to scale, and we are the first to develop technology for doing so,” adds Arthur Rivoal, CTO/CVO and co-founder of Seederal.
Core segment in Europe
While other electrification projects focus on low-power tractors (up to 100 hp), Seederal targets the core segment of agricultural machinery: medium sized tractors (100 to 200 hp). The versatility of this power range makes them a major market in Europe. With annual sales of over €9 billion, this segment accounts for more than half of all tractors sold in Europe. The stakes are high: ag machinery accounts for 2% of annual greenhouse gas emissions and 3% of energy consumption in France. Seederal is positioning itself as a key player in reducing these emissions, by offering electric tractors that reduce the carbon footprint by 15 to 20 tonnes per unit per year, equivalent to the annual emissions of 17 cars (based on 12,000 km/year).
Investors in Seederal
Supernova Invest, Ankaa Ventures, Unilis (Groupe Unigrains), CA (Morbihan Expansion), Kima Ventures, Xplore by Épopée Gestion and Breizh Up.
“As the first investment in our new AgriFoodTech fund, launched with Crédit Agricole, Seederal has opted for a complete architectural overhaul, with an innovative design based on an integrated chassis-battery system, similar to that adopted by Tesla. A breakthrough approach to achieve optimum energy density on the battery system”, says Romain Sautrau, Investment Director at Supernova Invest.
