Nordic Startup News Early Stage Startup News From The Nordics
Climate change is already strongly changing our environment and the global food security is beginning to halter. Finnish startup Kuva Space aims to help farmers in precision farming as well as bio asset owners, businesses and governments get better insight for making effective decisions towards sustainable farming, carbon binding and reduction of climate effects.
Kuva Space is an early-stage spacetech company, located in Espoo, Finland, formerly known as Reaktor Space Lab. They are building a service for global, daily and actionable real time data on ecological assets. The company aims to be the global source for actionable green datat for preventing the destruction of biodiversity and ecosystems while ensuring food for mankind.
Kuva Space offers solutions for agriculture globally to improve crop yields up to 30% while simultaneously decreasing the needed inputs by 15%. The company offers situational awareness on agricultural policies, emissions, and providing true verification tools for bio asset carbon sequestration methods.
On October 5th, the company announced a €4.2M round of seed funding from deep tech VC fund Voima Ventures and Nordic FoodTech VC, together with the European Space Agency and VTT Technical Research Centre of Finland. In a press release, Inka Mero, Managing Partner of Voima Ventures, says:
“Kuva Space takes a leap all the way to space to solve a huge global problem on earth. With real time and data provided by Kuva Space, forests and bioassets can be transformed into measurable and tradable carbon sinks. We are looking forward to working with this highly motivated team to improve life on earth with hyperspectral imaging and AI.”
In terms of technological advances, Kuva Space’s space-borne hyperspectral camera technology offers a never before seen efficiency combining small size and breakthrough performance. This solution enables building a constellation of tens of satellites highly cost efficiently, providing affordable data even for developing countries.
Now, Kuva Space announced €4.2 million in seed investments from Voima Ventures and Nordic FoodTech VC, together with the European Space Agency and VTT Technical Research Centre of Finland. This seed round empowers the building and launching the first commercial satellites and developing the service pipeline, in addition to taking forward the business development side of the company.
