Sustainability in farming is a key concern for governments, businesses and the planet – but at the same time, food production must increase by 60% to feed 9+ billion people by 2050.
Agtech company Connecterra is committed to increasing efficiency in agriculture while reducing the impact of farming on the planet. It has a clear proposition: use Artificial Intelligence to run farms better.
Connecterra are offering their predictive AI platform, ‘Ida’, to major industry partners such as Danone and Bayer, as well as to individual farmers. Ida has already helped eliminate the use of hormones in dairy farming and reduce the use of antibiotics by 50%.
Having completed a successful brand positioning exercise with Edelman in their early days, Connecterra had grown rapidly in the first few years of their existence. They were now about to embark on Series B investment round and realised that the messages around the company’s proposition needed to be reimagined if they were to be properly understood by investors they were pitching to.
Since creation, Ida had evolved from sensor tech to a full-stack technology and AI platform. Their partnerships had matured, and the business had grown from promising Agtech startup to a trusted digital transformation partner for major farming organisations, with many more exciting prospects in the pipeline. This current status wasn’t conveyed as well as it could have been in their legacy brand and investor materials.
Connecterra and Edelman identified key priorities to solve this challenge and come up with an impactful investor narrative:
- Better articulate their business model, enterprise offer and impressive track record in a way that could be immediately understood by both tech and agri-food investors
- Demonstrate the dairy farming market opportunity
- Present their company’s growth journey in a way that showcased the enormous potential of their proposition
- Do this fast, ahead of the next round of investor meetings scheduled in London.
STRATEGY & EXECUTION
Edelman Emerge (Edelman’s bespoke offering for start-up businesses) initially used Edelman's proprietary PRISM methodology to run a half day workshop with Connectera's founding members, in order to unpack a clear brand identity. The output of this work helped the company rewrite their website content and build better brand awareness as they signed-up their first major clients, including a partnership with Google.
It was also the foundational work we leveraged when Connecterra engaged us specifically around their Series B raise. To convey the company’s brand story and identity to investors, we put together an agile blended team made of investor relations and storytelling experts.
Then over the course of a week, we:
- Conducted a half day discovery workshop with the company’s CEO, sales and marketing team to unpack areas of confusion
- Used the output of the workshop to restructure the script for their investor pitch and provide guidance on the flow of their narrative
- Advised on the hierarchy of information, from market opportunity to competitive landscape, founding story, value proposition, product specs to long term vision and key financials
- Advised on design, to make materials more visually compelling and in line with the revised narrative
We worked closely with Connecterra’s leadership team throughout this process, brainstorming on ways to get the best outcome possible from both intrigued and sceptical investors.
As a result of this, Connecterra updated their investor materials and narrative, and got ready for a series of pitch meetings.
Our fundamental brand positioning and approach work enabled Connecterra to tell their success story to the world and make a strong argument for greater investment, to continue their important work in the future.
Yasir Khokhar, Founder and CEO of Connecterra, said: “I’ve presented [the deck] a number of times and had to clean up some jaws that were dropping on the floor. Thank you for helping us put our investment story right."
A few months later, despite the COVID-19 pandemic impacting economies and startups' fundraising efforts internationally, Connecterra announced that it had raised €7.8 million in a Series B funding round.
To Connecterra’s knowledge, this fundraise is the biggest ever Series B investment round for a European livestock tech company.