Fluxunit, the newly formed corporate venture capital subsidiary of lighting manufacturer Osram, has paid an undisclosed amount for a stake in Germany-based farming equipment developer Agrilution.
Osram’s light-emitting diode (LED) technology is used in the PlantCube, developed by Agrilution, which identifies seeds that have been planted and automatically regulates their temperature, watering and lighting conditions.
Retailer Tengelmann’s strategic investment subsidiary, Tengelmann Ventures, and venture capital firm Kraut Capital also hold stakes in the agritech startup.
Fluxunit has also incubated startup Consiergo, the Romania-based creator of a voice-recognition-based service for elderly people living home alone, but Agrilution is the unit’s first investment in its home country.
Ulrich Eisele, head of Fluxunit, said: “Thanks to its innovative business model, Agrilution is the perfect fit for Osram. And Osram, with its lighting and horticultural expertise, can help to improve and enhance agrilution.”