Deal Type

  • Fundraising

Avolta is delighted to have acted as sole financial advisor to Seederal on its €11m financing. 

Seederal, which develops medium-power electric tractors, is a key player in reducing GHG emissions and energy consumption in the agricultural sector (a farm tractor emits 15 to 20 tonnes of CO2 per year, equivalent to 17 passenger cars).

Transaction structuration. This round mixes €3.7m subsidies from the French government (France 2030) and a €7.1m equity financing carried out by a pool of investors led by Supernova Invest (Seederal is the first investment of their new AgriFoodTech fund launched with the Crédit Agricole Group) along with Ankaa Ventures, Unilis, CA Morbihan Expansion, Kima Ventures and historical investors Xplore (Epopée Gestion) and Breizh Up.

Transaction rationale. Seederal has demonstrated the reliability of its electric powertrain by developing a first prototype electric tractor with 160hp, enough power for the most demanding application. The funds will enable the company to embark on the next phase of developing its innovations, strengthening its patent portfolio, and launching iterative prototypes with a view to presenting its definitive model in 2026. The team, which currently numbers 12 expert engineers, will be significantly strengthened over the next 18 months in both Rennes and Brest.

About Seederal. Founded in February 2021 by Arthur Rivoal and Antoine Venet, Seederal addresses the heart of agricultural machinery: medium horsepower (multi-purpose tractors between 100 and 200 hp), a segment which represents more than half of all tractors sold in Europe, with total sales of 9 billion euros per year. While most other electrification projects concern low-power tractors (up to 100 hp), with no real technological breakthrough, Seederal has made the ambitious choice, rather like Tesla, to completely rethink the architecture of its machine. This innovative design, based on an integrated battery-chassis, aims to achieve optimum energy density on the battery system.

Seederal’s transaction sets another landmark for Avolta in sustainability-related businesses, confirming our leadership in this space, having recently advised:

–    Mecaware: 
€40m financing with Credit Mutuel Innovation and BPI-SPI
–    Toopi: €16m fundraising led by Clay Capital
–    BeFC: €16m Series A led by Otium Capital
–    Woodoo: €31m fundraising led by Lowercarbon Capital
–    Invers: €15m Serie A led by IDIA Capital Investissement and Agri Impact (Citizen Capital)