Vultus secured $1M from Almi Invest and Norrsken Foundation.

Sweden Investments 23 August 2019
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Vultus, a Lund, Sweden-based company working on technology for precision farming, announced in a press release securing a SEK 10M ($1M) capital investment round.

The funding includes Swedish investor Norrsken Foundation, matched by state-owned agency Almi Invest, through its Greentech fund.

Vultus, founded in 2016 by CEO Robert Schmitt, developed a solution based on satellite data and drones image analysis and which can reduce the use of mineral fertilizers by 30%, while increasing agricultural productivity.

The service was launched at the beginning of 2019.

Prior to this round, Vultus raised EUR 400k via Seedrs in 2018 and was part of Fast Track Malmö accelerator.