A young Ukrainian company Feodal, which joined the market in 2019, received funding from European investors. With the Feodal.land product, more than 5 million hectares [12.35 million acres – ed.] were digitalized for farmers and territorial communities in 2021 already, addressing the availability of the necessary data to manage a land bank. Through quick access to information and its visualization, local authorities are enabled to increase the income from land, and farmers are more effective in using the assets, growing their volume Andrii Demianovych, the founder and head of the Feodal project, explained how much money had been received and how it would be distributed.
“For us, investments are resources for expanding our team and accelerating the creation of new products for efficient enterprise asset management. We received the first tranche of US$ 250,000 from a group of European investors. The Pre-Seed funding of over US$ 1 million,” the founder and head of the project Andrii Demianovych commented.
Andrii Demianovych is convinced that investment is a way to access new markets and to expand its impact, the Feodal project is taking advantage of this opportunity. Today, this is one of the primary objectives of the company's development strategy for the coming years. Therefore, the funds will be allocated to widening the product range and entering the international market.
"We support the ESG (Environmental Social and Governance) ideology and our team will keep moving forward with its implementation," Andrii Demianovych added.
For context, Feodal delivers automated information from registers of land plots and land assets. The company's products are employed by various market players, including farmers and territorial communities. In the year 2021 alone, Feodal audited over 350 communities and conducted even more audits for farmers. The company is represented in almost every region of Ukraine and its presence is growing monthly.
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