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Venture Capital
riteventures.com

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Investments

22

Portfolio Exits

2

About Rite Ventures

Founded in 2007, Rite Venturesis a venture capital firm based in Stockholm, Sweden. We primarily invest in Nordic internet companies in their start-up or expansion phases but can be opportunistic when we find compelling opportunity. We involve ourselves actively inRite Ventures's portfolio companies and support the entrepreneurs in their work. We invest for the long-term, not for 'quick flips' and we look for entrepreneurs with a similar perspective.Rite Ventures's focus is on companies headquartered in the Nordics so we can keepRite Ventures's level of involvement and service high.

Rite Ventures Headquarter Location

Artillerigatan 6

Stockholm, 114 51,

Sweden

+46 76 022 0300

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Latest Rite Ventures News

Sweden’s Grönska Raises $2.4M to Expand Its Vertical Farming Operation

Mar 11, 2021

Swedish vertical farming company Grönska announced today it has raised 20.5 million SEK (~$2.4 million). Investors in the round include 82an Invest, PEAS Industries, Rite Ventures, Martas Explorers, Daniel Sachs AB, and Investor Group led by Tectonic Shift. There are two different parts of Grönska’s business. The company grows leafy greens in a fully controlled vertical farming environment, then sells the produce via retailers and restaurants, including Coop, ICA, and Urban Deli. The company also recently launched its GrowOff cultivation system , which is a smaller, five-story controlled-environment grow system. Grönska ships pre-seeded trays to users, who can track plant growth from a corresponding smartphone app. While theoretically the system could work anywhere, its size — on par with Farm.One and Babylon Microfarms — is probably best suited to a grocery store or restaurant environment. Europe has historically been known more for greenhouse technology than the massive vertical farms rapidly expanding across the U.S. However there is a growing number of startups in Europe now using the vertical method. Last year, Nordic Harvest struck a deal with Taiwan-based Yes Health Group to build out a massive vertical farm outside of Copenhagen, Denmark. On a smaller scale, Berlin, Germany’s InFarm has expanded its pod-like vertical farms across numerous grocery retail stores in the U.S. and Europe. Meanwhile, Finland’s iFarm licensees its grow system to other companies in Europe and the Middle East. Grönska said in today’s press release that it is seeing high demand for GrowOff. Moving forward, the company’s focus will be on increasing sales and production in Sweden and around Europe. This week’s funding round will also allow Grönska to further develop the technology powering both its farm and its GrowOff systems. Get The Spoon in Your Inbox Leave this field empty if you're human: Related

Rite Ventures Investments

22 Investments

Rite Ventures has made 22 investments. Their latest investment was in Gronska as part of their Seed VC - II on March 3, 2021.

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Rite Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/11/2021

Seed VC - II

Gronska

$2.43M

Yes

2

6/12/2020

PIPE

Qliro Group

$20.82M

Yes

1

10/4/2018

Series C

Artificial Solutions

$15.64M

Yes

3

5/10/2018

Unattributed VC

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10

12/2/2015

Seed VC

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$99M

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10

Date

3/11/2021

6/12/2020

10/4/2018

5/10/2018

12/2/2015

Round

Seed VC - II

PIPE

Series C

Unattributed VC

Seed VC

Company

Gronska

Qliro Group

Artificial Solutions

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Amount

$2.43M

$20.82M

$15.64M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

3

10

10

Rite Ventures Portfolio Exits

2 Portfolio Exits

Rite Ventures has 2 portfolio exits. Their latest portfolio exit was Artificial Solutions on March 12, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/12/2019

Reverse Merger

$99M

2

5/22/2017

Acquired

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$99M

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10

Date

3/12/2019

5/22/2017

Exit

Reverse Merger

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

Rite Ventures Acquisitions

2 Acquisitions

Rite Ventures acquired 2 companies. Their latest acquisition was Nebula Top on March 27, 2013.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/27/2013

$99M

Acq - Fin

1

4/21/2009

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$99M

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10

Date

3/27/2013

4/21/2009

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acq - Fin

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Sources

1

10

Rite Ventures Team

4 Team Members

Rite Ventures has 4 team members, including current Chief Executive Officer, Christoffer Hã¤ggblom.

Name

Work History

Title

Status

Christoffer Hã¤ggblom

Chief Executive Officer

Current

Simon Bjã¶rklund

Chief Technology Officer

Current

Christoffer Haggblom

Managing Partner

Current

Christoffer Häggblom

Managing Partner

Current

Name

Christoffer Hã¤ggblom

Simon Bjã¶rklund

Christoffer Haggblom

Christoffer Häggblom

Work History

Title

Chief Executive Officer

Chief Technology Officer

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

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