Grönska announced raising $2.4 million from local investors from Sweden.

Grönska, a Stockholm, Sweden-based company that develops technology for vertical farming, announced securing capital funding totalling SEK 20.5M ($2.4M).

The money was raised from a range of investors based in Sweden, including 82an Invest, Peas Industries, Rite Ventures, Martas Explorers, Daniel Sachs and an investor group led by Tectonic Shift.

Proceeds of the investment will be used for to increase sales and production in its own plant and in cultivation systems.

Grönska, founded in 2011 by Natalie de Brun Skantz, Petter Olsson and Robin Lee, develops technology for vertical farming, and grows and sells vegetables and herbs. The company launched its vertical farm in Huddinge (Stockholm) in 2019 and says that it is one of Europe's largest vertical farms. In 2020 it produced SEK 2.5 million in revenue.

Grönska previously raised SEK 5M from investors including GLD Invest