VEQ is now backing forest proptech company Ecotype!
We are very proud to team up with Ecotype Founders and LRF Ventures in this investment in Ecotype, the holistic platform for the forestry industry.
In the Ecotype platform, named Skogshubben in the Swedish market, anyone can see any data on forests across all of Sweden. Generally, the forest industry is lagging behind on digitalization even though it is one of the largest industries in Sweden, and we believe that Ecotype can fill that void.
The platform uses satellite data, LiDAR scans and open data sources to construct an interactive map of the forest, containing data on e.g. what kind of forest, how much timber one specific property holds, and the value of that timber. It also gives a heads up on risks to the forests, recommends when you should cut down the forest – or let you know how much carbon dioxide you can bind if you do not cut down the forest. Ultimately this kind of platform can replace the old fashion way of developing forestry plans across Europe.
Now we’re investing 8 mSEK together with LRF Ventures to boost product development and commercialization of the platform and we’re very excited to follow and support the team on their growth journey!