Espoo-based AI-based forestry platform CollectiveCrunch has secured €1.4 million in fresh funding to fuel international expansion. The company’s existing investor Nidoco AB led the round, Tech.eu reports.
- Founded in 2016 by Christof Danzl, Jarkko Lipponen, and Rolf Schmitz, CollectiveCrunch develops an AI-powered Linda platform. It enables sustainable forestry by utilizing datasets on climate, geo, and customer process and providing up-to-date data on forests and carbon stocks.
“We’re thrilled that our investors trust our team and technology amid these challenging economic times. With a business strategy designed for efficient growth – and an expanded solution portfolio that features core products adapted to serve a variety of needs – we’re uniquely positioned to support the digital transformation of the forestry industry,”
Rolf Schmitz, CollectiveCrunch co-founder, comments.
- Nidoco AB led the investment round as an existing investor. It is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies. The firm is currently a leading shareholder of 4 listed companies.
- Back in 2021, it supported CollectiveCrunch’s €2.3 million seed round. Nidoco’s other portfolio companies include Estonian cleantech Skeleton Technologies and Finnish elder care startup Gubbe.
- CollectiveCrunch will use the fresh capital to fuel international expansion and sink its roots into the forest carbon market.
