Arevo AB, a Swedish biotech company dedicated to enhancing plant growth for a healthier planet, has successfully raised €6.6M in funding. The round was initiated with a €3.1M investment from new investor Industrifonden, complemented by an additional €3.5M from existing backers Navigare Ventures, Fort Knox, Stora Enso, and Kempestiftelserna.
Anna Haupt, an investor at Industrifonden, emphasized the global challenge of meeting the increasing food demand while mitigating the environmental impact of agriculture. “Arevo can be an enabler in the transition to more environmentally sustainable agricultural practices. It is a Swedish science-based company with immense potential,” Haupt stated.
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Expanding Operations and Advancing Plant Nutrition Research
The funding will support Arevo’s operational expansion and the further development of its portfolio, which includes 58 patents derived from award-winning research into organic nitrogen uptake in plants by the company’s founder, Professor Torgny Näsholm. In autumn 2023, the swedish firm welcomed Niklas Åström as its new CEO, whose expertise from his tenure at ÅLÖ AB is expected to drive Arevo’s international growth.
Niklas Åström, CEO of Arevo, highlighted the significance of the investment for scaling the company’s technology to address urgent global needs. “Our precision nutrition products not only mitigate nitrogen leakage but also enhance yields and revolutionize agriculture and horticulture practices currently under legislative and financial pressures,” Åström explained.
Revolutionizing Agriculture with Precision Nutrition
Arevo’s precision nutrition solution leverages plants’ natural ability to efficiently use water and nutrients, reducing dependence on mineral fertilizers. This method not only strengthens plants but also increases their drought resilience. Initially developed for forestry, the startups products have successfully supported the growth of millions of forest seedlings and have shown promising results across various global crops, including soy, corn, sunflower, potatoes, and tomatoes.
Operating from Umeå in northern Sweden, the company maintains a global presence with 58 patents to its name. With this latest funding round, Arevo is poised to make significant strides in offering sustainable alternatives to conventional fertilization methods, contributing to the health of the planet and its inhabitants.
