Autonomous, solar-powered agricultural robot developer FarmDroid has secured €10.5m (£8.7m) in investment to drive global expansion, in a funding round led by Convent Capital.
The round was supported by EIFO and Navus Ventures, providing a total of nearly DKK 80m, (£8.9m).
The robot is able to sow seeds, remove weeds, and reduce pesticides by using a micro spray system, while it operates continuously in the field, powered by the sun
Jens and Kristian Warming, the founders of FarmDroid, said: “In the process, it has been important for us to find the right partners who understand the DNA of FarmDroid, share our vision, and want to join us on the journey ahead.
“With Convent Capital, Navus Ventures, and EIFO on board, while we as founders remain the primary owners, we are geared for the next steps on the journey. We have surpassed 500 robots – now the next milestone is 1,000.”
Adding, Steven Bernaert, Principal at Convent Capital, said:“At Convent Capital, we value solutions that are both practical and impactful. In our view the FarmDroid team developed a farming tool that stands out in its simplicity and effectiveness, making it one of the bestselling autonomous solutions in the market today.
“By significantly reducing chemical inputs while at the same time increasing crop yields, FarmDroid’s robots bring significant positive environmental impact. But above all, we have truly enjoyed working with the FarmDroid team over the past months and look forward to strengthening our partnership now that we have officially joint forces.”
Innovations and achievements in outdoor robotics will be highlighted and celebrated at the second annual Robotics & Automation Awards on 06 November 2024 at De Vere Grand Connaught Rooms in London. Visit www.roboticsandautomationawards.co.uk to learn more about this unmissable industry event – and to book your table!
