Irish agritech company MagGrow raises €6 million to accelerate R&D and manufacturing capacity

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Irish agritech company MagGrow has raised €6 million in a funding round led by Brussels-based Astanor Ventures, a venture capital firm to accelerate R&D of new products and ramp up its manufacturing capacity.

It is to be mentioned here that MagGrow has made a magnetic spraying technology that reduces spray drift by 70% and increases coverage by between 20-40%.

So far, the company has raised over €10 million, including €3 million in a funding round in 2018.