IRRIOT closes round of €550.000
The Swedish agtech company IRRIOT has closed an investment round of SEK 5.5 million through investment from LRF Ventures. In 2022, IRRIOT will focus on scale up of sales and now the company gets an ideal partner for rapid growth.
– LRF is a dream partner for us. The fact that LRF, which represents Swedish growers who use ours solutions with automated irrigation, stand behind and invest in the company is incredible strong. We have a steep growth curve behind us from 2021, but now we will accelerate and grow even more faster. The capital injection is an important part of this, but so is LRF’s network as well, says Johan Wendt, co-founder of IRRIOT.
– We are currently in dialogue with a number of international sales people and will open local offices in several places in Europe. When all relevant fairs and events are closed, we must pivot ours upscaling strategy and by establishing local offices we will reach resellers and customers faster. At the same time, the Swedish market is important to us and LRF will help strengthen our position here, Johan Wendt continues.
– We see, both among our Swedish growers, and in agriculture globally, a strong demand for new solutions that reduces water usage. IRRIOT has an important solution that addresses parts of this challenge. With a sharp team, a clear technological lead and with backing from strong owners, IRRIOT has good opportunities to build a successful business that really makes a difference. It will be really exciting to be part of that journey, says Martin Alexandersson, Investment Manager at LRF Ventures.