Lithuanian agtech startup Freya Cultivation Systems has raised €500,000 in a seed round to construct a demonstration greenhouse near Kaunas, showcasing its 3D Aeroframe crop production system. The funding round came from Coinvest Capital, BSV Venture, and private investors.
- Launched in 2018 by Vilmantas Raštutis, Lukas Bartusevičius, Gediminas Kudirka, and Ignas Andrulevičius, Freya develops advanced agricultural technologies, including the three-dimensional Aeroframe greenhouse system. This system uses ultrasonic misting to deliver nutrient-rich mist to plants, optimizing growth and resource efficiency.
- Freya’s technology is applied in projects like a World Bank-funded tomato cultivation initiative in Djibouti and biotech operations in South Africa. The company also works with a leading space agency and plans to demonstrate its Aeroframe system in a new greenhouse near Kaunas.
Details of the deal
- The investment was led by Coinvest Capital, a Lithuanian early-stage venture capital fund with €25.5 million in assets under management (AUM), which contributed €250,000 in this investment phase, and BSV Ventures, a Vilnius-based VC firm that recently closed a €15 million fund to support early-stage startups across the Baltics.
"I am confident that our investment will serve as a catalyst, opening doors to both regional and global markets, and enabling Lithuanian agri-tech innovators to claim their rightful position in this rapidly growing and promising sector,” Explains Viktorija Trimbel, Managing Director of Coinvest Capital.
- The round also received backing from Sofigama and Zunami Oy, managed by private investors and business angels Paulius Vilemas and Marko Lehtovaara.
- The startup will use the funds to build a demonstration greenhouse near Kaunas, validate the Aeroframe system through new pilot projects, and expand its market reach, to increase sales by up to €3 million.
"We are deeply grateful to Coinvest Capital for its leadership in the Lithuanian startup ecosystem, to BSV Ventures for their long-term support and collaboration, and to all the business angels for believing in our team's vision,” co-founder of Freya, Lukas Bartusevičius, stated.
