ONDO backed up by Eleven Ventures

Eleven Ventures has decided to make an investment in IndigoVerge – the company that stands behind ONDO smart agriculture solution and a number of web and mobile applications in the IoT and Industrial Automation domain. This has been announced earlier today by Eleven themselves.

The investment aims at supporting the active development of ONDO – an innovative solution for smart agriculture which IndigoVerge has been developing over the past 6 months.

IndigoVerge is a company with 15+ years of experience in the development of web and mobile applications for businesses in the IoT and Industrial Automation domain. This solid expertise has also been used in the development of ONDO.

ONDO is an intelligent smart agriculture solution for automated irrigation management, precise plant nutrition, climate control and monitoring for various crops. It is applicable for greenhouses, vineyards, open fields and orchards, allowing farmers to monitor and control all plant growing activities on their farms in real-time, from any device.

Eleven’s Partner Ivaylo Simov commented on the key factors behind this investment decision:

“A leading factor for us in this investment is the team, which has the perfect fit of technical skills, insights and knowledge for the respective market and strong business development acumen. Our investment in ONDO fits perfectly with one of the verticals which we are particularly interested in – Agri-Food Tech (the other two are Fintech and Healthtech). We believe that the future in this field will be enhanced by smart products, which will optimize the labour-intensive work-flow through automation and will highly improve efficiency. In the current crisis state, many people will focus on implementing sustainable solutions and this is one of them.”

“We want to thank Eleven for their support and for their high praise of ONDO. We trust that thanks to this strategic help ONDO will be able to focus its efforts on the development and further improvement of the system, on the ongoing communication with current and potential customers and will become a key factor for the digitization of the Bulgarian agricultural sector, making the farmers more competitive and successful.”– commented Ivaylo Enev, CEO of ONDO.

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