Smart farming startup Vultus saw funding targets being exceeded by 150% on day one. The company acquired € 200,000 within hours after opening its campaign.
Vultus is a smart farming startup that applies space technology to help reduce environmental impact on farming. On the first day of launching its crowdfunding campaign on Seedrs, Vultus targets were exceeded by 150%, raising over € 200,000 within hours. The funding will help bringing clean agricultural practices to Europe and Australia. Vultus helps farmers slash up to 40% of fertilisers.
The investment comes months ahead of the much anticipated launch of their global analysis, on October 26 2018. The already secured funding and growing amount of additional capital will go towards expanding the market outreach to help more farmers become greener. The launch of the campaign appears timely, with Europe and Australia having faced severe droughts, reducing the yields of many regions by more than 50%. The now funded technology tackles 2 sides of this challenge; both improving farming profitability by cutting costs, and reducing very potent greenhouse gasses, which result from excessive nitrogen. Globally 55% of nitrogen fertiliser applied, goes to waste.