Lithuania-based HeavyFinance, a climate tech investment marketplace for the agricultural industry, announced that it has secured €3M in a Seed round of funding.
The round was led by Lithuania’s Practica Capital, an early-stage venture capital fund dedicated to backing Baltic founders.
Practica Capital invests in the Seed, selected pre-seed and A stages of a round, and manages four funds with over €80M in AUM. The firm has invested in 50 companies to date.
Founded in 2020 by Andrius Liukaitis, Darius Verseckas, and Laimonas Noreika, HeavyFinance aims to reduce CO2 emissions by 1 gigaton by 2050 and hence offers funding and loan programs for companies in the sustainable agriculture sphere.
The company’s platform connects investors, from retail to institutional, with European farmers who are in need of outside funding to grow their operations and transition to sustainable agriculture.
As of now, HeavyFinance says it has assisted over 1,000 agricultural enterprises in Bulgaria, Latvia, Lithuania, Poland, and Portugal in raising funds.
Currently, HeavyFinance is operational in Poland, Portugal, Lithuania, Latvia, and Bulgaria.
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