Freya Cultivation Systems, a Kaunas-based AgTech startup, has secured €500k in seed funding to advance its innovative greenhouse cultivation technology.
The funding round, led by Coinvest Capital and BSV Ventures, also included investments from Sofigama and Zunami Oy, alongside business angels Paulius Vilemas and Marko Lehtovaara.
This injection of capital will support Freya in constructing a demonstration greenhouse near Kaunas, aimed at showcasing its three-dimensional Aeroframe greenhouse crop production system.
“Growing plants in fog is one of the most effective and efficient methods of cultivation. While this has been known for a long time, widespread adoption has been hindered by the limitations of existing technology. I am thrilled to unlock the biological potential of plants in a fog environment using our patented cultivation technology,” said founder Dr Gediminas Kudirka.
Founded in 2018 by agronomist Dr Gediminas Kudirka, Freya is developing controlled environment agriculture (CEA) with its flagship Aeroframe technology. This system develops commercial greenhouse farming by leveraging three-dimensional growing surfaces, effectively doubling the cultivation area and reducing per-plant costs.
The Aeroframe promises yield improvements of up to double for crops such as strawberries, lettuce, herbs, and tomatoes, while boosting grower profits by up to threefold.
CEO Lukas Bartusevicius commented that the funds raised will be utilised to launch new pilot projects aimed at validating the Aeroframe system. This initiative will enable the company to expand its target market and increase sales up €3 million.
Coinvest Capital contributed €250,000 to the funding round, underscoring its confidence in Freya’s potential.
Viktorija Trimbel, Director of Coinvest Capital, remarked: “This project combines elements rarely funded by generalist investors – deep technology, hardware, and agricultural production – yet the Freya team has successfully integrated them into a highly effective solution. I am confident that our investment will serve as a catalyst, opening doors to both regional and global markets, and enabling Lithuanian agri-tech innovators to claim their rightful position in this rapidly growing and promising sector.”
Freya has successfully completed several pilot projects using its patented titanium ultrasonic irrigators, which convert nutrient solutions into a fine mist with optimally sized droplets. The start-up’s technology is currently being employed to cultivate tomatoes in a World Bank-funded project in Djibouti, East Africa, and is also utilised by a biotech company in South Africa.
The demonstration greenhouse near Kaunas will play a key role in validating the Aeroframe system while attracting interest from smart farm operators across Central and Western Europe, North America, and Japan.
Freya also plans to enhance the system with advanced automation features, including seeding and harvesting technologies.
Freya’s leadership team combines expertise in agronomy, engineering, and business development. Led by Lukas Bartusevicius, with co-founder Vilmantas Rastutis driving innovation in ultrasonic misting technology, and Ignas Andrulevicius managing operations, the team is getting to work on its ambitious goals.
Read the orginal article: https://www.eu-startups.com/2024/12/317874/
