FarmDroid, a startup serving to farmers and plant breeders cut back their prices of guide labor, secured €10.5 million funding to speed up the enlargement of its autonomous, solar-powered agricultural robotic within the typical market
The funding spherical was led by Convent Capital, with participation from EIFO and Navus Ventures, offering a complete of practically DKK 80 million. The FarmDroid robotic can sow, take away weeds, and cut back pesticides utilization with a brand new micro spray system, all whereas working repeatedly within the discipline, powered by photo voltaic vitality. Now, FarmDroid is about to broaden additional globally, concentrating on each natural and traditional open-field farming, enhancing effectivity and selling sustainable agriculture.
Farmers at this time face vital structural challenges which are reshaping the way forward for agriculture, together with the necessity to cut back chemical inputs, lower reliance on guide labour, and reduce operational prices. FarmDroid, an organization primarily based in Vejen, Denmark, developed a flexible, easy-to-operate, light-weight and inexpensive robotic that may handle a number of of those challenges. Because the world’s best-selling solar-powered discipline robotic, it gives a sustainable different to conventional farming strategies, enjoying a significant function within the inexperienced transition.
By drastically lowering the necessity for chemical inputs and labour prices, FarmDroid’s autonomous robotic permits farmers to implement extra sustainable practices whereas enhancing productiveness. The robotic is able to sowing, weeding, precision spraying, and autonomously operates across the clock. FarmDroid promotes eco-friendly agriculture by way of mechanical weed elimination and exact spraying, all whereas preserving soil well being and considerably lowering operational bills. Having confirmed its effectiveness totally on natural farms, the latest introduction of the spot spraying software now opens the door to broader adoption in typical farming. With mechanical weeding, FarmDroid reduces sure pesticide use by as much as one hundred pc in comparison with typical strategies.
At FarmDroid, each the CEO and founders are more than happy with the funding from the three concerned events. “We’re extremely proud to have closed this funding, which can strengthen FarmDroid’s place and supply alternatives to develop and broaden the usage of agricultural robots. This funding contributes each with competences and monetary assets devoted to scaling the enterprise, growing our impression, and selling sustainable and economically engaging options for agriculture,” says René Jannick Jørgensen, CEO of FarmDroid.
The founders are excited to welcome the brand new buyers as they be a part of FarmDroid on its progress journey. “Within the course of, it has been essential for us to search out the appropriate companions who perceive the DNA of FarmDroid, share our imaginative and prescient, and need to be a part of us on the journey forward. With Convent Capital, Navus Ventures, and EIFO on board, whereas we as founders stay the first homeowners, we’re geared for the following steps on the journey. We’ve surpassed 500 robots – now the following milestone is 1,000,” added Jens and Kristian Warming, the founders of FarmDroid.
The funding aligns completely with the methods of the three collaborating buyers, every of whom recognises the potential of FarmDroid’s expertise to reshape trendy agriculture and make constructive environmental impression.
The lead investor highlights: “At Convent Capital, we worth options which are each sensible and impactful. In our view the FarmDroid workforce developed a farming device that stands out in its simplicity and effectiveness, making it one of many bestselling autonomous options available in the market at this time. By considerably lowering chemical inputs whereas on the identical time growing crop yields, FarmDroid’s robots deliver vital constructive environmental impression. However above all, now we have actually loved working with the FarmDroid workforce over the previous months and stay up for strengthening our partnership now that now we have formally joint forces,” commented Steven Bernaert, Principal at Convent Capital.
This enthusiasm is shared by the opposite buyers within the syndicate. “FarmDroid is a robust addition to EIFO’s portfolio as the corporate matches completely into our technique of supporting the inexperienced transition with modern options. FarmDroid drastically reduces the usage of pesticides whereas being an economically engaging resolution for agriculture,” added Caroline Søeborg Ahlefeldt, Funding Supervisor at EIFO.
At Navus Ventures additionally they see a robust match between FarmDroid and themselves. “We see FarmDroid as a frontrunner in robotisation of arable farming, enabling extra sustainable and long-term productive practices. Their pragmatic and farmer-oriented expertise has been examined within the discipline for years as they established a powerful buyer base. We’re wanting ahead to our collaboration and see a robust match with our background within the automation and robotisation of agriculture,” stated Eduard Meijer, Managing Director at Navus Ventures.
