The Oslo-based AgriTech startup, which develops fully automated vertical farming solutions, has raised €5 million in new capital to develop its indoor farming technology, aimed at driving sustainable large-scale local food production.
The funding includes a €1.6 million grant from Innovation Norway, combined with €3.4 million from existing investors.
"Our technology is designed to integrate smoothly into existing supply chains, eliminating the need for local expertise in cultivation, chemistry, or technical operations. This allows our customers to grow fresh food locally year-round, with minimal resource use, extended shelf life, and without the environmental impact of transportation," says Martin Molenaar, CEO and Co-founder of Avisomo.
Founded in 2018 by Martin Molenaar and Jo-André Flåseth as a student project at the Norwegian University of Science and Technology (NTNU), Avisomo develops automated and modular vertical farming solutions.
Read more at EU-Startups