The agri-food cooperative group based in Ploudaniel, in Finistère, best known for its Paysan Breton brand, has joined the Ambition Agri Agro Tech (3AT) fund, created by Crédit Agricole and Supernova Invest. The partnership is designed to better connect the group with Europe’s leading innovation ecosystems.
Identifying the technologies capable of accelerating agricultural and agri-industrial transitions is increasingly complex. Europe’s start-up ecosystem is dense, fast-moving and highly fragmented. For Even, the agri-food cooperative group based in Ploudaniel in Finistère, the response has been to change approach.
The group, which generates €2.7 billion in revenue and employs 6,500 people, has joined the Ambition Agri Agro Tech (3AT) fund. Launched in 2023 by Crédit Agricole and Supernova Invest, the fund is dedicated to early-growth agri-tech and agro-tech companies across Europe. Supernova Invest, a specialist in European deeptech, currently manages around €800 million in assets.
“Our innovation strategy is already well established, particularly through our Even’Up call for projects,” says Christian Griner, Chief Executive Officer of the Even Group, known to the wider public through its Paysan Breton brand. “What convinced us in this partnership was its European reach. It gives us direct access to the leading agri-tech and agro-tech ecosystems in Germany, Belgium, Denmark and beyond.”
A broad and pragmatic investment scope
Through its involvement in 3AT, the cooperative aims to support young companies addressing strategic challenges. These include improving farm productivity, decarbonising industrial processes and managing resources more sustainably. “Our objective is simple,” says Romain Sautrau, partner at Supernova Invest. “To build strong bridges between deeptech solutions and the operational realities of the field.”
The 3AT fund, whose next closing is expected by the end of the year, should bring its investment capacity to around €80 million. Its focus is on facilitating Series A rounds. For each transaction, the average investment ticket ranges from €2 million to €4 million. Expected returns stand at “around 15% on average”, according to Romain Sautrau.
Since its launch, the fund has already backed a diverse set of projects. These include Belgian company Fyteko, which has developed a biostimulant that helps plants better withstand water stress, and Danish biotech Enduro, which has created a genetic solution to improve biofermentation processes while reducing energy consumption.
In Brittany, 3AT has also supported Seederal. The company has developed a prototype 100% electric tractor for large-scale arable farming, with industrial production expected within three to four years. The manufacturer, “supported by the Village by CA”, as noted by Benoît Lucas, Chief Executive Officer of Crédit Agricole Finistère, recently announced a partnership with Michelin aimed at optimising the vehicle’s tyres.
Several other investments are currently being finalised. These include an autonomous navigation system for agricultural machinery, innovative packaging solutions for the dairy and cheese industries, and new non-GMO seed varieties.
In the longer term, the 3AT fund is targeting €100 million, with the support of additional industrial partners.
