The war of aggression of Russia was the fate of a company from Turku that manufactures smart gardens.
From Turku the smart garden manufacturer Plantui has filed for bankruptcy. The District Court of Varsinais-Suomen declared the company bankrupt last week. Plantui produced smart plant pots that you can use to grow your own salads, for example. The pots work with the hydroponics method. The company also sold plant capsules suitable for pots.
The smart garden became public in 2017. Then the president Sauli Niinistö and Ph.D Jenni Haukio donated a smart garden to the Japanese Prime Minister who visited Finland Shinzo Abe to the spouse Akie to Abe.
The next time a company producing smart gardens made headlines was in 2018, when Plantui gathered famous investors behind it, such as the co-founder of Supercell Mikko Kodisojan.
The company raised 1.4 million euros in the funding round. At that time, it was reported that the retail network of smart gardens is already operating in 22 massa.
Plantui’s turnover was over 1.6 million euros in the second year, but it was halved last year. According to the financial statements, the pandemic period caused delivery difficulties for the company, but the company believed that it would have its operations in order by the middle of 2022.
However, Russia’s attack on Ukraine collapsed the demand for smart plant pots and increased the difficulty of supplying components.
At the beginning of this year, the company was looking for a new owner, but the sale project failed. After this, Plantui applied for corporate reorganization.
There were no possibilities for restructuring, as Plantui was permanently over-indebted and insolvent. The company filed for bankruptcy in the district court on August 24. According to it, the company had debts of almost three million euros.
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