GrainSense Oy, an Oulu, Finland-based developer of a device for grain protein measurement, secured €1.4m in equity funding.
The backers were not disclosed. included VTT Ventures Ltd, Berner Ltd and three Nordic private investors with an agricultural background.
Led by Edvard Krogius, CEO, GrainSense develops a cloud-based service offering and handheld device giving farmers control over the quality, cost and pricing of their crops. The company’s hand-held device measures the protein, moisture, oil and carbohydrate content of cereals and other crops while they are still in the field. The device, battery powered, requires a few grains and takes seconds to make each measurement, with no preparation needed.
It will allow farmers, seed producers and plant breeders to measure key parameters of their crops and meat producers to control and adjust the protein content of feed in real time. The device includes positioning (GPS) and cloud connection functionality.
An optical device spinoff company of VTT Technical Research Centre of Finland, GrainSense will launch its offering in 2016 and begin marketing, sales and product development cooperation with Berner Ltd in the Nordic and Baltic countries.
The funding team of the company includes Ralf Marbach (inventor and founder), Jouni Huopana (founder), Ykä Marjanen (co-founder), Max Schulman (co-founder), Arve Lukander (co-founder) and Edvard Krogius (co-founder).
FinSMEs
11/02/2016
UPDATE 12/02/2016