Irriot in a SEK 5.5 million funding deal backed by LRF Ventures.

Irriot, a Stockholm, Sweden-based company providing smart irrigation systems, raised SEK 5.5 million ($600k) in capital investment.

The money was raised from local investors from Sweden LRF, the Federation of Swedish Farmers.

Irriot, founded in 2017 by Alex Palin, Mikhail Soloviev and Johan Wendt, built a wireless, self-powered irrigation automation platform that helps reducing water wastage in agriculture, as well as save on electrical bills, eliminate human factor and provide better crop yields in food production. The company produced sales of SEK 1.3 million in 2021 and previously raised a total of $600k in 2021 and in 2019.