Arevo bags €7m for bio-based fertiliser – and appoints ex-politician to its board
Swedish agtech startup Arevo has raised €7.3m in new funding, Impact Loop can reveal. The fresh capital comes alongside a shake-up of the board, which now includes several high-profile names.
Impact Loop first reported on Arevo in March 2024, when the company secured €6.8m from investors including state venture fund Industrifonden and Swedish investor Fort Knox.
CEO Niklas Åström confirms the latest raise was completed together with existing investors. The funding was aimed at scaling its operations and expanding internationally, he told Impact Loop.
Rise of fertiliser tech
Arevo develops a more sustainable alternative to conventional fertiliser, based on research by Torgny Näsholm, a professor at the Swedish University of Agricultural Sciences. The company’s product – arginine phosphate – is designed to help soil retain nutrients more effectively, reducing nitrogen leakage and greenhouse gas emissions.
Investor interest in fertiliser innovation has been rising globally, as the sector faces mounting pressure to decarbonise. Fertilisers contribute to about 5% of global greenhouse gas emissions – almost double that of air travel.
US-based Nitricity recently raised $50m to scale its renewable-powered fertiliser technology, while Norwegian startup NZN (NetZeroNitrogen) secured €5.6m this summer to produce fertiliser from captured nitrogen.
New board members
Since Impact Loop last spoke with the company, Arevo has added several heavyweight figures to its board.
Maria Wetterstrand, former spokesperson for Sweden’s Green Party and now CEO of consultancy Miltton Europe in Brussels, joined in March this year.
“Maria’s background and experience complement the board extremely well,” says Åström. “She brings valuable EU-level insight into regulations and policy.”
Other board members include David Sonnek, CEO of Navigare Ventures (linked to the Wallenberg sphere and a major investor in Arevo), and his colleague Diana Henningsson, who joins as deputy member. Henrik Lenning, deputy CEO at forest industry giant Stora Enso – also a shareholder in Arevo — joins as a full member, alongside Industrifonden’s Anna Haupt.
Recently, Arevo launched a fertiliser product for homeowners, aimed at replacing conventional synthetic lawn fertilisers. “It’s a complementary product – something for lawns that offers a more sustainable alternative,” Åström explains.
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