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[Funding alert] Estonian Precision Agriculture Startup Paul-Tech Raises €1.4M Seed Round Funding

Oct 10, 2023 | By Startup Rise EU

Estonian Precision agriculture startup Paul-Tech raises €1.4M seed round funding. The round was led by Estonian fund Superangel, with participation from SmartCap, Honey Badger Capital, the Estonian Business Angels Network (EstBAN), Tatoli AS, Overkill VC and business angels from Sweden.

Estonian Precision agriculture startup Paul-Tech raises €1.4M seed round funding. The round was led by Estonian fund Superangel, with participation from SmartCap, Honey Badger Capital, the Estonian Business Angels Network (EstBAN), Tatoli AS, Overkill VC and business angels from Sweden.

Read also - Ukraine-based Product Development Company Trinetix Raises $10 million in Funding

Mikk Plakk, CEO and co-founder of Paul-Tech said. "The funds will be used to expand into the UK market and advance the product offering. This investment enables us to continue our technology development and provide accurate and reliable solutions to farmers across Europe,”.

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Paul-Tech’s agricultural platform combines proprietary sensors, born out of multiple generations of research, with data analytics, allowing farmers to engage in more efficient management practices.

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Unlike traditional precision farming methods that rely solely on optical data, Paul-Tech’s technology evaluates the effectiveness of fertilizers in the soil and provides farmers with insights on when they are running low or need to be replenished.

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Today, Paul-Tech’s platform is used already by over 100 farmers from Estonia, Finland, Sweden and the UK. According to Paul-Tech’s existing customers, using the data from their soil stations has enabled them to make smarter decisions: “Paul-Tech’s data enabled me to reduce the amount of fertilizers applied with winter crop sowing, and as a result, enabled savings of 55,000€ with one decision.

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Other solutions in the market are not able to provide such level of information,” says Estonia based farmer Jakob Lindam.

About Paul-Tech

Paul-Tech is a science-based agricultural platform enabling farmers to improve management processes based on real-time soil data. The company uses soil sensors, which have been built based on generations of research, to measure the effectiveness of fertilizers in the soil and provide farmers with insights on when they are running low or need to be replenished. The company was founded in 2019 by Mikk Plakk, Tiit Plakk, Eve Plakk, and Anu Einberg.

Read also - UK Startup Ostium Labs Secures $3.5M Seed Round Funding

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