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Monday, February 26, 2024

Estonian precision agriculture startup raises €1.4M to equip farmers with real-time soil insights

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Tallinn-based precision agriculture startup Paul-Tech has secured €1.4 million in a seed funding round led by Estonian fund Superangel, with participation from various investors, including SmartCap, Honey Badger Capital, the Estonian Business Angels Network (EstBAN), Tatoli AS, Overkill VC and business angels from Sweden. The startup uses proprietary soil sensors and data analytics to provide farmers with real-time insights on soil quality and fertilizer effectiveness, enabling more efficient and sustainable farming practices. The funds will fuel the company’s expansion into the UK market and further development of its agricultural platform.

Founded in 2019 by Mikk Plakk, Tiit Plakk, Eve Plakk, and Anu Einberg, Paul-Tech is a science-based agricultural platform that specializes in providing farmers with real-time soil insights and data-driven solutions. They utilize proprietary soil sensors, developed through generations of research, along with advanced data analytics. This technology allows farmers to assess the effectiveness of fertilizers in their soil in real-time and receive recommendations on when to replenish or adjust them. Unlike traditional precision farming methods that rely on optical data, Paul-Tech’s approach integrates real-time soil data, weather information, satellite data, and agronomic knowledge. This enables farmers to make more informed decisions, optimize their agricultural practices, increase crop yields, and reduce their ecological footprint, ultimately promoting sustainable and efficient farming.

“This investment enables us to continue our technology development and provide accurate and reliable solutions to farmers across Europe,” says Mikk Plakk, CEO and co-founder of Paul-Tech. “Our unique soil-based approach provides recommendations based on real-time soil data from the customer’s fields, weather and satellite data, as well as agronomic knowledge. As a result, farmers are able to increase crop yield whilst reducing its ecological footprint.”

“In the light of growing environmental, societal and economic pressure, sustainable practices are more crucial than ever. Paul-Tech’s commitment to reducing water wastage, minimizing CO2 emissions, and enhancing crop production aligns seamlessly with our investment philosophy of intersecting sustainability and technological innovation. We are excited to support Paul-Tech in driving positive change within the agricultural sector and creating lasting value” says Marko Oolo, partner at Superangel.

Click to read more funding news.

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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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