Pangstart wins the country NOK 1.4 million from Innovation Norway


PROGRESS: Co-founder and CPO of Völur, Adrian Diaz, took the stage during Pangstart Gründer in November 2019 and explained how their AI solution helps the meat industry. (Photo: Mari K. Buckholm)


The Pangstart winners landed NOK 1.4 million from Innovation Norway:

- An extremely important grant for us

The start-up company Völur won Pangstart Gründer in autumn 2019. In April 2020, they were granted a grant of NOK 1.4 million from Innovation Norway after a good and efficient application process.

By Mari Kristine Buckholm , 30 April 2020

- It is very gratifying to receive such a grant. It shows that there are more people outside the industry who see the need we meet and the value we create within the meat industry. In addition, it is important for us to have Innovation Norway at our back in the future, comments Adrian Diaz, co-founder and Chief Product Officer (CPO) at Völur.

The company develops optimization tools based on artificial intelligence (AI) that help the meat industry make optimal use of animals, while satisfying exactly the same market demand and reducing food waste.

- At the stage Völur is in, the grant from Innovation Norway is extremely important. It makes it possible for us to build the company further and create value for customers, Diaz points out.

Valuable confirmation

After the victory in the intensive entrepreneurial program Pangstart last November, the company became part of Smart Innovation Norway's incubator as well as a member of the industry cluster Cluster for Applied AI. In the new year, work began on applying for grants from Innovation Norway.

- We wrote the application ourselves, but received good guidance from our adviser in Smart Innovation Norway, Tor Frydenberg. In addition, we have had close dialogue with Innovation Norway, who have given us good guidance throughout the process, says Diaz (pictured).

There was great cheering when the good news came, and Diaz is clear that it means a lot to the start-up company to get confirmation that they are on the right track.

- We feel that Innovation Norway sees the value our technology brings to such a large and socially important industry as the meat industry. They show that by giving us a grant that facilitates further growth and development in the company, he says.

Cooperation for further progress

Völur's ambition is to be the number 1 provider of value chain optimization tools based on artificial intelligence in the meat industry. The grant is an important step on the way and will go towards further development and internationalization of the company.

Diaz says that both the Pangstart program and the close collaboration with Smart Innovation Norway have meant a lot to Völur's progress, and it will be no less important in the phase the company is now entering.

- When working with research and development, at the same time as entering new markets, it is crucial to have good collaboration partners, which we have in Smart Innovation Norway. In the future, it will be absolutely crucial for us to create value for the customer - that is clearly the first priority. At the same time, we will work on building the company further to become an international player, concludes Völur's CPO.

About Völur

  • Optimizing value chains with the use of artificial intelligence (AI).
  • Helping the food production industry use the least possible global resources to meet demand.
  • Their intelligent solution understands how a business works, predicts cause-effect-outcomes and provides real-time recommendations based on market demand.
  • With the intention of helping to reduce food waste worldwide, Völur offers its AI-driven optimization service, in line with the UN's sustainability goal number 12: "Ensure Sustainable Consumption and Production Patterns".