Time flies, it's December again. We believe a good summary of past helps us stepping into a brighter future. So, we would like to invite you to our one year review, about the progress we have done in 2018.
First of all, we are glad to announce that we just moved into a bigger office located in Lilla Fiskaregatan 19, Lund in Sweden, because we have grown into a global team with 13 individuals, from 9 different countries. With the hard work of our team, we have improved a lot during this year, both in technology and business field.
From the technical side, we established our first image processing pipeline with in March 2018. Now, the pipeline has been updated into the third version, which supports simultaneous multiple images processing, and API integration. Also, we developed our nitrogen model, that will be live early next year.
From the business side, we joined several startups competitions and performed well in most of them. For instances, Vultus was nominated for the Business Green Leaders Awards 2018 and shortlisted in top 10 of Slush - the world's leading startup event. Additionally, we received 200,000€ in project funding to support our development.
One of the most exciting news of last year is about the successful crowdfunding: we raised over 400,000€ in the first round of crowdfunding, which was more than 2.5 times of our initial goal (150,000€). With enough financial support, we expanded our business network globally through establishing international partnerships in Europe, Asia and Africa, reaching a total of 6.5 million hectares.
Due to the rapid progress, we received a lot of media attention. In total, 30 articles about Vultus was published by different media such as Fruitnet, Farmers weekly, Farming UK, etc. The publicity has helped us reach new partners, investors and markets.
In conclusion, we are glad to see that Vultus has grown into a more solid company, with great progress on both development, business and investment sides. 2018 was a key year for our company, and has prepared us well, for our large ambitions for the future. In next blog, we will briefly talk about our goals and plans for 2019. Don't miss that!