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.

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As the startup expand internationally and commercializes, it has successfully raised nearly €1 million (SEK 10 million) from several existing and current investors. It’s investors now including I Love Lund, SLU Holding, Fast Track Capital II, and Almi Invest Greentech.

Company’s CEO Krister Tham has told Rapidus, that:

“For us, a new chapter begins, now we can plan long-term. Most of the money will go to building a sales department. We have shown that our business also works in countries far away, so we dare to invest internationally directly”

With the entire strong team committed to maximizing the utilization of forest land for the best of climate and society, the investment will be used to build the sales department and global expansion. The company’s SaaS solution has gained enormous recognition among several forestry companies from all over the world.

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