Key Takeaways
- Initial Investment Secured: Scoutlabs, formerly Smapp Lab, received $2 million in initial funding from various investors, including Czech-based DEPO Ventures and US-based Impact Ventures.
- Expansion into the US Market: The investment from one of the largest US investors will facilitate Scoutlabs’ entry and expansion into the American market.
- Sustainable Pest Control: Scoutlabs addresses the global challenge of ineffective pest control, exacerbated by climate change, through data-driven solutions.
- Innovative Technology: The company is developing a digital trap network for precise insect monitoring, aiding farmers in sustainable pest management.
- Future Vision: Scoutlabs aims to revolutionize agriculture with a data-driven co-pilot, enhancing decision-making and promoting sustainability for future generations.
Scoutlabs Secures $2 Million Investment for Sustainable Pest Control Solutions
Initial Funding Round
Budapest-based Scoutlabs, formerly Smapp Lab, has secured an initial investment of $2 million, as first reported by Tech Funding News. This funding round saw participation from Czech-based DEPO Ventures, known for backing Flowpay and Talsec, alongside foreign investors Interactive Venture Partners (IVP), SVG Thrive, and US-based Impact Ventures. This substantial backing, particularly from one of the largest US investors, is set to aid Scoutlabs in scaling its innovative solutions into the American market.
Innovative Solutions for Farmers
Founded by farmers Jimmy Fong and Donat Posta, Scoutlabs is dedicated to making digital insect monitoring affordable and accessible for millions of farmers. The company is developing the densest digital trap network designed to track insect migration and swarming patterns precisely. This innovative approach enables farmers to combat pests more sustainably and effectively.
