Farmforce to raised NOK 35 million from MP Pensjon, Orkla Venture and Investinor.

Farmforce, an Oslo, Norway-based SAAS developer for farmers, completed a NOK 35M ($4M) capital investment round.

The backing was provided by a range of Norwegian investors including Investinor, Orkla Ventures and MP Pensjon and puts a pre-money company valuation of NOK 60 million ($6.8M). Money will be used for growth.

Farmforce, founded in 2017 and led by CEO Anne Jorun Aas, was started as a project in a foundation for sustainable agriculture at the Swiss biotech company Syngenta by Knut Jørstad and Grethe Viksaas. The company developed a software solution helping farmers gain access to formal markets and secure sustainable sourcing. Formal markets can increase the number of potential buyers for smallholder produce but these markets require traceability and compliance with food safety standards; something which has traditionally been challenging and time-consuming.

The app is used by 500,000 farmers in 30 countries and generates revenue from customers including Cargill, Kellogg's, McCormick, Diageo and Tradin Organic.