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Hungarian startup receives €1 mln

Budapest-based start-up QuantisLabs which created SmartVineyard, a cutting edge Hungarian diagnostic technology designed to protect vineyards grapes against diseases, has received €1 mln in European Union support for further development, Hungarian daily Népszabadság reported this weekend.

SmartVineyard was among the top 15 projects selected by the Stanford University Graduate School of Business in 2010. The support will come from the European Union’s largest R&D fund known as Horizon 2020, the company told the daily.

The funding is expected to be used for developing precision sensors and a monitoring system for other plant cultures located near the vines. The company plans on hiring several experts over the coming years for the development process.