Airforestry announced raising SEK 9 million from Walerud Ventures and angel investors from Sweden.

Airforestry, an Uppsala, Sweden-based startup building a business around a system for electric airborne forestry management, announced that it raised capital in a round closed at SEK 9 million ($1M).

The money was raised from investors led by Walerud Ventures and joined by a number of local angel investors from Sweden, including Alfred Ruth, Malin Carlström, Anders Ösund and Andy Johnston.

Airforestry, founded in 2020 by Markus Romar, Mauritz Andersson, Caroline Walerud and CEO Olle Gelin, uses technology for thinning forests trees - smaller trees are removed to make room for the stronger trees so that they can grow larger. The company uses electric harvesting drones controlled from an operator station in order to make it possible to thin forest without damaging land or surrounding trees. The company says that in Sweden alone, the method can reduce direct emissions by more than 150,000 tonnes of carbon dioxide per year and increase the forest's carbon dioxide uptake by one million tonnes per year.