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11 FEBRUARY 2016
EMBARGO at 1.00 pm FINNISH TIME
PolarBearPitching, Oulu, Finland
Finnish agri-tech start-up, GrainSense, secures EUR 1.4 M in equity
GrainSense Oy (Oulu, Finland), which has developed the world’s first truly hand-held
device for grain protein measurement, has secured 1.4 million euro of funding, topped
off with a development loan from Tekes. GrainSense, which is an optical device spin-
off company of VTT Technical Research Centre of Finland Ltd, is seeking to exploit
its 1 billion plus potential on the worldwide markets with a cloud-based service
offering and handheld device giving farmers greater control over the quality, cost and
pricing of their crops.
The GrainSense hand-held device measures the protein, moisture, oil and
carbohydrate content of cereals and other crops – i.e. key determinants of the harvest
value and processing cost – while they are still in the field. The device is battery
powered, requires only a few grains and takes just seconds to make each
measurement, with no preparation needed. For the first time, this will allow farmers,
seed producers and plant breeders to rapidly measure the key parameters of their
crops and make decisions that improve profitability. The device will also enable meat
producers to control and adjust the protein content of feed in real time, which can
have a major impact on profitability. The device includes positioning (GPS) and cloud
connection functionality, which supports a suite of value-added services for
improving productivity and profitability.
GrainSense will launch its offering in 2016 and begin marketing, sales and product
development cooperation with Berner Ltd in the Nordic and Baltic countries.
“With our unique concept, we will empower farmers to produce more crops of higher
quality, while adding transparency to the overall grain business. We are excited about
having the potential to affect the lives and wellbeing of millions of people,” says
Edvard Krogius, CEO of GrainSense.
“The founding team together with our investment partners, Berner and a private
investor syndicate with agricultural background, gives us an excellent basis for
building a global success story in this exciting new space,” says Antti Sinisalo, CEO
of VTT Ventures.
“This new concept reinforces Berner’s comprehensive offering for Finnish Farmer’s.
The priority for us is to improve our customer’s productivity and profitability, and we
have a strong believe that this start-up concept will help do just that, continues Kalle
Erkkola, Head of Division, Berner Ltd.
Founding Team; Ralf Marbach (inventor and founder), Jouni Huopana (founder), Ykä
Marjanen (co-founder), Max Schulman (co-founder), Arve Lukander (co-founder)
and Edvard Krogius (co-founder).
Investors; VTT Ventures Ltd, Berner Ltd and three Nordic private investors with an
Innovation funding; GrainSense has been granted a development loan by Tekes
(Finnish Funding Agency for Innovation).
Oulu, Finland, 11 February 2016
+358 50 322 9392
Distributed to: Press and stakeholders
GrainSense has developed the world’s first truly handheld device for grain protein
measurement. GrainSense, is an optical device spin-off company of VTT.
GrainSense’s business model is based on a disruptive technology which enables
farmers and other players in the industry to engage in wholly new operating practices
for controlling the quality, cost and pricing of their produce. Market potential: annual
EU market worth EUR 500 million, over EUR 1 billion worldwide.