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Agri robotics start-up, Niqo Robotics, raises $13 million in funding round led by Bidra Innovation Ventures

Thehindubusinessline

Thehindubusinessline · 1y ago

Agri robotics start-up, Niqo Robotics, raises $13 million in funding round led by Bidra Innovation Ventures

Bengaluru-based agri-tech start-up Niqo Robotics has raised $13m in Series B funding led by Bidra Innovation Ventures. The firm uses computer vision, deep learning and AI to spray agrochemicals selectively on target plants, reducing chemical usage by up to 90%. Niqo's technology integrates with existing farm equipment and has demonstrated real-time chemical savings of up to 60% on over 90,000 acres. The funding will be used to expand to new markets and accelerate global commercial adoption. The round takes Niqo's total funding to $21m.

Related News

Niqo Robotics Bags $13 Mn To Offer AI-Powered Spraying Services

Inc42 · 1y ago

Niqo Robotics Bags $13 Mn To Offer AI-Powered Spraying Services

Bengaluru-based agritech startup, Niqo Robotics, has closed its Series B funding round at $13 million. The round was conducted in two tranches, with the participation of Bidra Innovation Ventures, Fulcrum Global Capital, and existing investor Omnivore. Niqo Robotics offers agrochemical spraying services using precision spot spray technology, reducing chemical usage by up to 90%. The startup has commercialised over 90,000 acres, resulting in real-time chemical savings of up to 60% and benefitting over 1,800 farmers. Niqo Robotics plans to expand into new markets and accelerate the global adoption of spot spray technology.

Exclusive: Niqo Robotics raises $9 Mn in a new round

Entrackr

Entrackr · 1y ago

Exclusive: Niqo Robotics raises $9 Mn in a new round

Agritech robotics firm Niqo Robotics (formerly TartanSense) has raised Rs 74.7 crore or $9 million in a new round led by Brida Innovation Ventures. The fresh funding comes after a hiatus of three years for the Bengaluru-based company. The board of Niqo Robotics has passed a special resolution to issue 8,577 preference shares at a price of Rs 87,090 each to raise Rs 74.7 crore, its regulatory filing accessed from the Registrar of Companies shows. Bidra Innovation Ventures pumped in Rs 41.5 crore while exiting investor Omnivore Partners also subscribed to the round with Rs 33.2 crore. As per startup data intelligence platform TheKredible, the company has been valued at around Rs 290 crore or $35 million (post-money) Following the fresh proceeds, Omnivore Partners emerged as the largest external stakeholder with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Its sole founder Jaisimha Rao holds more than a quarter of the company. See TheKredible for the complete shareholding pattern. Founded in 2015 by Jaisimha Rao, Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. The company announced its rebranding to Niqo Robotics in March last year. Niqo Robotics has raised $16 million to date including its $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021. The firm also scored a $2 million Seed round in 2019. While the company would disclose its FY24 numbers later this year, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses spiked twofolds to Rs 9.8 crore in the fiscal year ending March 2023.

Niqo Robotics raises $13 Mn in Series B round to scale globally

Entrackr

Entrackr · 1y ago

Niqo Robotics raises $13 Mn in Series B round to scale globally

Agritech robotics firm Niqo Robotics (formerly TartanSense) on Tuesday announced that it has raised $13 million in a Series B round led by Brida Innovation Ventures. The round also saw significant investments from new investor Fulcrum Global Capital and existing investor Omnivore. This brings Niqo’s total fundraising to $21 million including a $5 million in Series A round from FMC, Omnivore, and Blume Ventures in August 2021 and a $2 million Seed round in 2019. Entrackr exclusively reported about the deal on May 1. Niqo will expand to new markets and accelerate the commercial adoption of spot spray, globally, according to Jaisimha Rao, founder and CEO of the company. Niqo Robotics specializes in crafting compact agricultural robots empowered with AI-driven computer vision technology which claims to reduce costs and increase profitability. It uses a proprietary AI camera with deep learning models to identify and selectively spray on target plants, reducing chemical usage by up to 90%. In 2023-24, Niqo claims to commercialize over 90,000 acres of land and benefiting over 1,800 farmers. While the company is yet to disclose audited FY24 numbers, the nine-year-old firm’s Indian entity largely remained in pre-revenue stage with a revenue of only Rs 1.3 crore during FY23. At the same time, its losses surged 2X to Rs 9.8 crore. As of the latest tranche, Omnivore Partners was the largest external stakeholder in Niqo with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively. Check TheKredible for more details. It competes with Zenrobotics, SwarmFarm, and Ecorobotis, among others.

Agri startup Eeki raises $7 million from Sixth Sense Ventures to expand operations - The Economic Times

Economic Times

Economic Times · 19h ago

Agri startup Eeki raises $7 million from Sixth Sense Ventures to expand operations - The Economic Times

Agri start-up Eeki has secured $7 million from Sixth Sense Ventures to scale up its operations across India. The funds will support nationwide expansion using aeroponic innovation, bolster research and development, and enhance the deployment of advanced Gen 3 Growing Chambers. Eeki, which has raised over $10 million in the past year, focuses on optimizing yields with minimal resources. Co-founder Amit Kumar emphasizes that Sixth Sense's consumer expertise will aid Eeki's leadership in nutrition and origin.

Anscer Robotics raises $2 Mn in seed round

Entrackr

Entrackr · 4m ago

Anscer Robotics raises $2 Mn in seed round

Anscer Robotics raises $2 Mn in seed round Deeptech startup Anscer Robotics has raised $2 million in its seed round led by Info Edge Ventures. The proceeds will be used to expand into new geographies and develop new product lines. Founded by Ribin Mathew, Ebin Sunny, Raghu Venkatesh, and Brijesh CA, Anscer Robotics makes smart robots that help move things in warehouses, factories, and logistics centers. The company’s flagship robots can carry up to two tonnes, including pallet movers, tuggers, conveyors, and lifters. The startup claims to have already deployed autonomous mobile robots (AMRs) at the units of its 15 enterprise customers across the US, India, Singapore, and Japan.

ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week

Economic Times

Economic Times · 1y ago

ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week

Technology startups received a total funding of $117.6 million in the third week of May, down 34% from the same period last year. The largest funding deal was $45 million for Gurugram-based Battery Smart. A total of 18 funding rounds took place during this week, compared to 32 last year. Bengaluru-based Blume Ventures was the top investor, backing startups like Battery Smart and InstaAstro. Other notable funding deals included Red Health raising $20 million, Niqo Robotics securing $13 million, Rupeek raising $6 million, and Celcius receiving $4.8 million.

Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures

Entrackr

Entrackr · 7d ago

Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures

Defence tech startup Armory Raises Rs 13 Cr led by GrowX Ventures Defence-tech startup Armory has raised Rs 13 crore (around $1.5 million) in a funding round led by GrowX Ventures, with participation from Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors. The proceeds will be used to boost R&D, expand manufacturing, and speed up deployment. Founded in 2024 by Amardeep Singh, Armory develops indigenous counter-drone systems (C-UAS) capable of detecting, tracking, and neutralising rogue drones. Its flagship system, SURGE, has undergone field trials with multiple Indian Army units. The company’s technology is powered by Samaritan OS, an AI-led defence operating system offering real-time adaptability and continuous learning — features missing in traditional systems.

B2B agri-food startup Farmtheory raises $1.45M in a funding round led by Merak Ventures

IndianStartupNews

IndianStartupNews · 1y ago

B2B agri-food startup Farmtheory raises $1.45M in a funding round led by Merak Ventures

Farmtheory, a B2B agri-food startup, has secured $1.45 million in a funding round led by Merak Ventures. The funds will be used to expand its operations, improve its technology infrastructure, and strengthen its supply chain. Farmtheory focuses on reducing food waste by procuring "freeform" produce directly from farmers and supplying it to businesses. The startup claims to have partnered with 3,000 farmers and served over 1,500 kitchens, contributing to sustainability in the agri-food sector.

Exly raises $6.2 million funding led by Chiratae Ventures

Thehindubusinessline

Thehindubusinessline · 1y ago

Exly raises $6.2 million funding led by Chiratae Ventures

Business tools provider Exly has secured $6.2m in a funding round led by Chiratae Ventures. The Indian start-up plans to use the investment to develop its suite of tools, acquire customers and help users boost their earning potential. Exly aims to simplify the management of knowledge-based businesses by providing a comprehensive platform, allowing entrepreneurs to focus on sharing knowledge rather than dealing with disparate tools and products. Since its founding in 2018, Exly, formerly called MyScoot, has raised $1.8m in seed funding and secured backing from start-up accelerator Y Combinator.

Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others

Inc42 · 1y ago

Bare Anatomy parent Innovist raises $7 Mn from Amazon Smbhav Venture Fund, others

Innovist, the parent company of D2C consumer brands Bare Anatomy and Chemist at Play, has secured $7 million in a Series A funding round led by Amazon Smbhav Venture Fund. Other existing investors, including 72 Ventures, the family office of Nykaa founder Falguni Nayar, and former KKR India head Sanjay Nayar, also participated in the round. The funds will be used for product innovation, market expansion, and team building. Innovist raised $3.5 million in a pre-series A funding round last year and has garnered over $13 million in total funding.

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