Sweden-based Arevo AB, a biotech company that claims to make plants grow better for a healthy planet, announced that it has raised €3.1M in funding from new investor Industrifonden.
Additionally, existing investors Navigare Ventures, Fort Knox, Stora Enso, and Kempestiftelserna have contributed an extra €3.5M to bolster Arevo’s growth.
Anna Haupt, an investor at Industrifonden, says, “Addressing the increasing demand for food to sustain our growing population, while simultaneously mitigating the adverse environmental effects of agriculture remains a pressing global challenge – one that is of paramount importance to policymakers and agricultural stakeholders alike.”
“I am eagerly anticipating the broader utilisation of Arevo’s products beyond the forestry sector. Arevo can be an enabler in the transition to more environmentally sustainable agricultural practices. It is a Swedish science-based company with immense potential.”
Capital utilisation
The funds will facilitate the expansion of operations and further development of Arevo’s portfolio, which encompasses 58 patents stemming from “award-winning” research into organic nitrogen uptake in plants led by the company’s founder, Professor Torgny Näsholm.
In autumn 2023, Arevo appointed Niklas Åström as its new CEO, leveraging his expertise from his previous role at ÅLÖ AB. Åström’s blend of business and agricultural knowledge is propelling Arevo’s international expansion.
Åström says, “Backing from our established long-term investors for Arevo’s scaling journey empowers us to accelerate the dissemination of our technology and address urgent global needs.”
“Our precision nutrition products not only mitigate nitrogen leakage but also enhance yields and revolutionise agriculture and horticulture practices currently under legislative and financial pressures.”
“This investment marks the start of our international expansion into horticulture and agriculture. Our initial focus will be on Europe, where there is a critical need for scientifically proven climate innovations that benefit farmers,” adds Åström.
Growing healthy plants with zero nitrogen waste
Arevo claims that its precision nutrition solution taps into plants’ innate capacity to use water and nutrients effectively, reducing reliance on mineral fertilisers. This approach not only strengthens plants but also enhances their resilience to drought.
Originally crafted for forestry, Arevo’s products have helped in the growth of millions of forest seedlings. Moreover, their technology has demonstrated success across various global crops like soy, corn, sunflower, potatoes, and tomatoes.
The company says this innovation offers an alternative to conventional fertilisation methods, mitigating environmental drawbacks associated with mineral fertilisers.
Operating from Umeå in northern Sweden, Arevo maintains a global presence and holds 58 patents.
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