Bosch cooperation boosts Plantui turnover – advisory group to reinforce strategic competence
The cooperation with Bosch announced last August provided a strong boost to Plantui turnover.In future, expanding on the global indoor garden market will be accelerated by a six-person advisory group, in addition to the Plantui team and board of directors.
In 2018 Plantui’s turnover grew by 26% to €706,000. In 2019 Plantui aims to triple its turnover to €2.4 million. Plantui’s cumulative turnover is €2.1 million, and it has sold a total of 25,000 smart gardens and 250,000 plant capsules.
“The growth of Plantui’s turnover is the result of the work of many years. We have acquired strategic competence and succeeded in creating profitable partnerships,” says CEO René Österman.
The urbanization megatrend and growth of the foodtech category have also put wind in Plantui’s sails. Hydroponic gardening is a market worth billions globally, and Plantui wants to tap into a significant portion of this with its premium service concept for Smart Indoor Gardening.
From product manufacturing to licensing
In the near future, Plantui is going to invest even more in product development. Plantui’s specialty and success factor is its patented growing method and the indoor garden’s unique light spectrums which can be used to adjust the taste and texture of the plants.
The features of Plantui products have also convinced home appliance manufacturers. Last August Plantui launched OEM product manufacturing with electronics company Bosch Siemens Hausgeräte GmbH (BSH). The partners will continue product development and aim to launch new products in the autumn of this year.
“Our success is based on patented technology and our unique growing method, which are packaged in a high-quality design product. Our technology makes us a pioneer in an extremely competitive market,” says Plantui CTO Kari Vuorinen.
Plantui continues to grow with the help of new partnerships. Negotiations about possible cooperation have been begun with a Canadian company. Other new developments are also in the offing.
Top team to support Plantui growth
Plantui’s expanding operations and team will in future be supported by a six-person advisory group, in addition to the board. The group has foodtech and management competence which is particularly important to Plantui.
The members of the advisory group are corporate law specialist Harri Lukander, metal industry professional and Leino Group CEO Liisa Leino, HKScan strategic director Heli Arantola, Asian markets and community specialist Myron Tay and Aventum partner Kari Heinistö. The group will also include a specialist in technology licensing.
“Plantui’s innovation manages to simultaneously satisfy several different consumer needs, and I am extremely excited to get to help the company grow,” says Heli Arantola.
Timo Ketonenwill continue as chair of the board, with Riia Sandström and Ville Hurnonen as members. New members of the board are Bonalive Biomaterials founder and CEO, Dr Fredrik Ollila, Phd (Biochemistry), and former Oral CEO and experienced board professional Martin Forss.
For further information, please contact:
Timo Ketonen, Chairman of the Board, Plantui Oy
Tel. +358 400 831 205, timo.ketonen@plantui.com
Plantui is a Finnish Design & FoodTech company specializing in the development and manufacturing of smart hydroponic indoor gardens. Plantui products make it easy for everyone to grow fresh, delicious, clean and healthy salads and herbs anywhere, anytime – green thumb or not. All Plantui products are designed and partly manufactured in Finland. www.plantui.com
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