Swedish AI-based forestry tech company Katam Technologies has raised € 2 million (23 million SEK) in a new funding round. The startup, founded by Krister Tham, initially focused on expanding sales in Latin America with its AI service for forest management. With the new capital, Katam is now setting its sights on Southeast Asia.
Rapidus reports the new funding surpasses last year’s raise of 6 million SEK, with the company aiming to achieve global profitability within two years. Although the CEO Magnus Karlson declined to reveal the main investor, he shared that it’s an established Swedish company in the forest products trade.
“We have raised over 23 million SEK to bring us to global profitability. We are already profitable in markets like Latin America, and in Southeast Asia, we have a customer in Laos and are exploring how to establish ourselves in Indonesia,”
said Karlson, speaking from Jakarta, Indonesia, to Rapidus
In addition to new investors, several existing shareholders participated in the funding round, including SLU Holding, Almi Invest Greentech, I Love Lund, and Giscom.
Focus on Southeast Asia and North America
Katam Technologies’ AI-driven platform is gaining traction due to its ability to not only optimize forest management but also contribute to sustainability and biodiversity efforts. With the new funding, the startup wants to continue developing its platform to meet global forestry needs.
It’s AI-based cloud service uses drones and video to digitally measure and assess individual trees in forest stands, significantly reducing the time compared to traditional manual methods. The service processes filmed data and provides decision-making tools to optimize forest management.
The company already operates a subsidiary in Brazil with about ten employees. Now, Southeast Asia is the key focus area for Katam’s future growth, with plans to expand further into North America.
