Uppsala-based AirForestry, a Swedish company developing drone-based tree harvesting technology, has raised €10.3M in a seed round of funding.
Olle Gelin, CEO and founder of AirForestry, adds, “We’re thrilled about our new investors who believe in the same goal as we do – making forest products more cost-effective and even more sustainable by unlocking all values of the forest.”
“We now have a strong position to bring this solution to foresters, so that they can manage their forests effectively and increase productivity, biodiversity, and carbon sequestration.”
Investors supporting AirForestry
AirForestry’s seed round was led by Northzone, a $4B multi-stage venture capital fund that has backed companies like Spotify, Trustpilot and iZettle.
The Swedish company also attracted additional investors, including Kiko VC, a climate-focused deeptech fund; SEB Greentech VC, an evergreen climate investor; and Cloudbreak VC, a European family office specialising in electric drive units.
CapitalT, a Dutch VC firm focused on climate and the future of work led by Janneke Niessen, and Sveaskog, the largest forest owner in Europe, are among the investors. Founding investor Walerud Ventures, which develops deeptech solutions for sustainability, also participated in this funding round.
Per Callenberg, Head of Sustainable Business Development at Sveaskog, says, “With our investment in AirForestry, we want to contribute to the future of forestry. Together with AirForestry, we can develop products and solutions for advance technology and machinery to meet the complex challenges facing the forestry sector.”
“Creating conditions for eventually being able thinning forests with drones is revolutionary for how we manage forests, while also reducing the risk of impact in the forest terrain from heavy machines.”
Capital utilisation
The funding, which includes €1.7M grant from the Swedish Energy Agency, will help AirForestry advance its eco-friendly technology. By using drones instead of heavy machinery, the company reduces environmental damage, protects biodiversity, and promotes healthier forests.
AirForestry aims to create a fully electric, sustainable solution for the forestry industry.
Caroline Walerud, Founder and Executive Chair at AirForestry, says, “We have a fantastic configuration of investors to build the next chapters towards our vision. We’re excited to welcome Northzone’s General Partner Pär-Jörgen Pärson and Kiko VC’s Ben Murphy to the Board of Directors.”
“Looking ahead, we hope to tackle larger portions of forestry, with an environmental upside that will result in many gigatons of saved CO2.”
Reinventing forestry
According to a statement from AirForestry, traditional forestry uses over 3.5 billion liters of diesel each year, contributing to high CO2 emissions. AirForestry has developed a fully electric technology that can potentially cut these emissions by up to 10 megatons annually.
The company’s method involves using electric drones to thin forests without creating logging trails, which can save about 0.8 tonnes of CO2 per hectare each year. This approach not only reduces environmental damage but also protects biodiversity and helps forests grow healthier and more resilient.
Overall, AirForestry’s solution could lead to an additional 500 megatons of CO2 being stored globally each year.
Pär-Jörgen Pärson, Partner at Northzone, says, “AirForestry represents a pivotal leap forward in sustainable and more cost-effective forest management with a solution that drives both environmental impact and technological progress.”
“It is hard to imagine a team better equipped to disrupt this particular industry. Olle Gelin is one of the most knowledgeable and connected forest experts in the world and Mauritz Andersson leads a team of world-class experts in autonomous systems and drone technology.”
The technology!
AirForestry has developed a lightweight harvesting tool weighing 60 kilograms, which is carried by a drone to selected trees. The tool grabs the top of the tree, prunes the branches, and saws off the trunk, securing the tree for transport to the nearest road. This method allows for thinning forests from the air.
The high-capacity drone measures 6.2 meters in diameter and is designed for precision flying, enabling efficient tree thinning and transport. Made from carbon fiber and featuring angled rotors, it was first assembled by the team on October 18, 2021.
The company has created multiple prototypes. According to AirForestry, Prototype 0.4, measuring 2.5 meters in diameter, features machine-milled parts and had a successful test flight in January 2021, demonstrating good capacity and manoeuvrability. The initial prototype, Prototype 0.1, was 1 meter in diameter and validated the rotor concept.
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