The Finnish-German startup CollectiveCrunch will use the funding to further develop its one-of-a-kind Artificial Intelligence(AI), Linda Forest, and bring its service to new markets.
The European Space Agency (ESA) has confirmed that it will co-fund a demonstration project of CollectiveCrunch, the Finnish-German leader in AI for the forest industry. ESA will contribute 50% of the overall cost. The total volume of the project is close to €1 million.
The funding will be used to further develop and pilot the Linda Forest platform for forest inventories and key aspects of forest planning, investment and management, bringing new AI-based tools to both buyers and sellers of wood and forest lands. The company already has several high-profile customers in Finland, Sweden and the Baltics and interest from Central Europe, Russia and North America.
“This project is a major step in our development of becoming the AI leader in forestry, bringing new features to market and expanding into new markets,” says Rolf Schmitz, CEO and Co-founder of CollectiveCrunch.
The funding was granted by ESA’s Business Applications that supports companies to integrate space data or technology into commercial services.
“CollectiveCrunch’s solution Linda Forest will help the forest industry to optimise forest management and contributes to more efficient use of natural resources. The mix of data sources like satellite Earth observation data or airborne laser scan and the integration of harvester data for calibration will further assure the quality of this AI-based solution for forestry,” says Antje Vogel, Applications Engineer at ESA Business Applications.
Potential to become the “Google Maps” of forestry
Linda Forest is a turn-key SaaS solution that predicts wood mass, wood species and wood quality of target areas far more accurately than any existing conventional methods. The company utilises climate, geo, and customer process data to make better predictions of forest inventory. Their cutting-edge AI platform was officially launched in September 2019 and is anticipated to be a game-changer for forest management companies, forest funds and wood product companies who can now make better buying and selling decisions.
Probably one of the largest AI initiatives in this sector, CollectiveCrunch has the potential to become the “Google Maps” of the forestry industry, handling the forests in a much more sustainable and dynamic way.