Finnish Tracegrow gets new funding from Nordic Foodtech VC
26 August, 2022, 15:58
The Finnish cleantech startup Tracegrow has secured a new funding round from Nordic Foodtech VC to fuel the expansion of its operations. The companies do not disclose the amount of funding, but it brought the total sum to €2.5 million, EU-Startups inform.
- Founded in 2012, Tracegrow is a cleantech company operating in the circular economy. It develops an innovative technology to extract and reuse the elements zinc and manganese from used alkaline batteries. It then circulates them safely back to the nature as the world’s most ecological Zinc and Manganese-based micronutrient products for farming.
“Reuse of non-renewable natural resources is important for all of us. Tracegrow´s magic-sounding technology enables a true circular economy and provides remarkable global potential. We are happy to join the company and support their development and growth,”Mika Kukkurainen, partner and co-founder of Nordic Foodtech VC, comments.
- Nordic Foodtech VC is a Helsinki-based fund investing explicitly in the future of food and food technology. The fund is enabling system level change and scale up Nordic innovations doing good for the people, planet, and society.
- The investment brings the total amount of funding to €2.5 million, meaning Tracegrow raised nearly €1 million since the previous round in July 2021.
- The new capital boost for Tracegrow will allow the company to expand the production, as well as facilitate the development of its technology.
Earlier this month, Nordic Foodtech VC made another investment in the Finnish foodtech startup Ruokaboksi during its €3.5 million growth funding round. Read more about the round here.