Collective Crunch raised a $700k funding round led by Finland’s Thominvest.

CollectiveCrunch, an Espoo, Finland-based forestry tech company, announced that it completed a financing round of €600k ($682k). 

The round was oversubscribed and was led by Finland’s Thominvest, including existing and new angel investors. The money will be used to finalise and launch the first commercial version of the compan's product, Linda Forest platform, expected for the second half of 2019.

CollectiveCrunch, led by CEO Rolf Schmitz, built a product called Linda Forest, an AI platform utilizing climate, geo, and customer process data in order to arrive at better predictions of forest inventory. The solution lets foresters know the volumes and species of wood they have on their land without having to drive out for inspection.

The company has offices in Helsinki, Berlin, and Munich, and forestry customers in Finland, Sweden, Estonia, and Brazil.

The round is taking CollectiveCrunch’s total funding to €1M. In 2017, the company raised €250k ($300k) in an equity round led by Takeoff Partners.