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Wednesday, February 1, 2023

Nordic Foodtech VC invests in Finnish agritech startup

Nordic Foodtech VC, investing in deep food tech across Nordics and Baltics, welcomes Tracegrow Oy as one of its portfolio companies. Tracegrow’s globally scalable technology converts industrial side streams and recycled batteries into valuable circular economy products with a low carbon footprint. With this investment from the Helsinki-born venture capital firm, the Finnish startup will be able to fuel up for commercial development.

Tracegrow Oy, a Finnish circular economy company, produces organic certified fertilizers from used alkaline batteries. The company´s patented process is based on the separation of micronutrients from recycled alkaline batteries and industrial side streams. Tracegrow’s fertilisers are proven to reduce carbon emissions and enhance crop productivity compared to traditional methods.

Nordic Foodtech VC, Tracegrow, Mikko JoensuuTracegrow´s CEO Mikko Joensuu: “We are happy that leading foodtech investor in Nordics is backing our growth. Nordic Foodtech VC is bringing insight, knowledge and networks from the food system to our company. Together we see great potential in helping primary production in transition towards more ecological and productive future.”

Nordic Foodtech VC is investing explicitly in the future of food and food technology aiming to radically renew the food system – from the soil to the orbit and from new sources of protein to better ways of eating. The fund was launched in 2020 and has 42M€ to invest in approximately 20 companies in the Nordics and Baltics. It is enabling system-level change and scale up Nordic innovations doing good for the people, planet, and society.

Nordic Foodtech VC, Tracegrow, Mika KukkurainenMika Kukkurainen, partner and co-founder of Nordic Foodtech VC: “Reuse of non-renewable natural resources is important for all of us. Tracegrow´s magic sounding technology enables true circular economy and provides remarkable global potential. We are happy to join the company and support their development and growth.”

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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