OlsAro, a Gothenburg, Sweden-based agtech startup focused on developing wheat varieties resilient to climate stresses such as salt, heat, and drought, has secured €2.5 million in funding.
Investors
The round was led by Future Food Fund and PINC, Paulig’s venture arm, with participation from AgFunder, Flora Ventures, Mudcake, and existing investors.
Future Food Fund is a specialist venture capital fund that invests in early-stage companies that change the value chain of food & agriculture. It was founded in 2019 and is based in Utrecht, Netherlands.
PINC, the impact-driven CVC of Paulig Group, invests in early-stage startups in and around the future of food. It was founded in 2018 and is based in Stockholm, Sweden.
OlsAro Use of Funds
The newly acquired funds will be utilized to scale up the company's technological and commercial efforts.
About OlsAro
Founded by Henrik Aronsson and Olof Olsson, OlsAro is an agtech company focusing on the development of wheat varieties resilient to climate stresses like salt, heat, and drought. OlsAro has developed a genetic crop breeding platform, initially focusing on wheat varieties that can thrive in salty conditions. Their ultimate goal is to adapt this technology to benefit a wide range of crops, thereby addressing the broader impacts of climate change on fertile land. OlsAro has secured a commercial contract for its salt-tolerant wheat in Bangladesh and is conducting field trials in Pakistan, Kenya, Oman, and Nepal.
Funding Details
Company: OlsAro Crop Biotech AB
Raised: €2.5M
Round: Unknown
Funding Month: April 2024
Lead Investors: Future Food Fund, PINC
Additional Investors: AgFunder, Flora Ventures, Mudcake
Company Website: https://olsaro.com/
Software Category: Crop Development
Source: https://siliconcanals.com/crowdfunding/olsaro-bags-2-5m/