The Tallinn-based Startup Aims to Transform Agriculture Through Sustainable Soil Management Practices
Estonian agritech startup Paul-Tech has raised €1.4 million in a seed funding round aimed at advancing its soil management technologies and making inroads into the UK market. Led by Estonian investment fund Superangel, the round also attracted participation from SmartCap, Honey Badger Capital, EstBAN (Estonian Business Angels Network), Tatoli AS, Overkill VC, and Swedish angel investors.
Family Legacy and Innovation
Originating as a three-generation family effort, Paul-Tech's soil sensors have a storied history. The concept was initially devised by CEO Mikk Plakk’s engineering grandfather, further developed by his father Tiit, and finally applied in an agricultural setting by Mikk's wife Eve, who comes from a farming background. This unique collaboration led to the birth of a platform that caters to the specific needs of farmers and land managers.
Efficient and Sustainable Agriculture
The startup's innovative approach empowers farmers and crop growers with real-time soil data, weather and satellite insights, and agronomic expertise. This trifecta enables optimized fertilizer usage, prevention of nutrient-starved soil, and cost-effective farming operations. "Our unique soil-based solution allows farmers to enhance crop yields while minimizing their environmental impact," said Mikk Plakk.
With an existing clientele of over 100 farmers in Estonia, Finland, Sweden, and the UK, Paul-Tech aims to leverage its newly acquired funding to extend its presence in the UK market and refine its product offerings.
Investment and Sustainability
"In an era marked by growing environmental and societal pressures, the adoption of sustainable practices is not a choice but a necessity," stated Marko Oolo, partner at Superangel. "Paul-Tech’s commitment to sustainability, such as reducing water wastage and CO2 emissions, aligns perfectly with our investment philosophy. We are enthusiastic about supporting their mission to bring positive change to agriculture."
As it gains traction in a sector ripe for innovation, Paul-Tech is positioning itself as a frontrunner in marrying technological innovation with sustainable agricultural practices.