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Agriculture robotics startup Niqo Robotics raises $13M in funding

Inshorts · 1y ago

Agriculture robotics startup Niqo Robotics raises $13M in funding

Niqo Robotics has raised $13 million in a Series B funding round led by Brida Innovation Ventures. The round also saw participation from new investor Fulcrum Global Capital and existing investor Omnivore. The startup has developed a proprietary AI camera that uses deep learning models to precisely identify and spray target plants, significantly reducing chemical usage by up to 90%.

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.

Investors powering on robotics startups - The Economic Times

Economic Times

Economic Times · 1m ago

Investors powering on robotics startups - The Economic Times

In 2024, Indian robotics startups raised $117 million across 41 deals, a significant increase from previous years, reflecting global trends where funding reached $18.6 billion. Key startups like Niqo Robotics, CynLr, and Ati Motors attracted investments due to growth in automation and cost reduction in robotics manufacturing. The synergy with the automotive industry and advancements in electric vehicle technology have facilitated this growth, making robotics adoption more economically viable and efficient.

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.

Robotics deeptech startup Neuralzome Cybernetic raises $2.4 million - The Economic Times

Economic Times

Economic Times · 3d ago

Robotics deeptech startup Neuralzome Cybernetic raises $2.4 million - The Economic Times

Neuralzome Cybernetic, a Bengaluru-based startup, raised $2.4 million in pre-seed funding to enhance its autonomous robotics solutions across various sectors, including agriculture and manufacturing. The funding, led by 8X Ventures and others, will help scale research, manufacturing, and operations. The startup's AI platform, NeuralPilot, integrates simulation to reduce training costs and time, promoting the Robot-as-a-Service model for sectors like orchard management. Neuralzome aims to make robots more accessible in everyday life.

Vayu Robotics Emerges from Stealth with $12.7 Million in Seed Funding to Revolutionize AI Robotics

Business Bytes

Business Bytes · 1y ago

Vayu Robotics Emerges from Stealth with $12.7 Million in Seed Funding to Revolutionize AI Robotics

Vayu Robotics, a company specializing in affordable AI robotics, has emerged from stealth mode with $12.7 million in seed funding. Founded by robotics and AI experts, Vayu Robotics aims to disrupt various industries by offering innovative robotic solutions. With a focus on affordability and quality, the company seeks to make AI robotics accessible to businesses of all sizes. The funding will support product development and expansion, allowing Vayu Robotics to address the increasing demand for automation and contactless solutions in sectors such as manufacturing, logistics, healthcare, and agriculture.

Accio Robotics secures raises funding to fuel its warehouse automation offerings

Inc42 · 1y ago

Accio Robotics secures raises funding to fuel its warehouse automation offerings

Bengaluru-based warehouse robotics startup Accio Robotics has raised $1.8 million in a Pre-Series A funding round co-led by BIG Capital, Unisync Angels, and Daniel Fitzgerald. The company offers warehouse automation solutions and has developed a robotics system for order picking in warehouses. Accio plans to use the funding to enhance its technology and product team, expand internationally, and deploy more robots. The startup is set to officially launch and showcase its products globally next month.

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.

Kitchen robot Botinkit raises $13M from DJI angel and others

TechCrunch · 2y ago

Kitchen robot Botinkit raises $13M from DJI angel and others

Botinkit, a robotics company founded by Shirley Chen in Shenzhen, raised $13 million in a Series A round to expand its cooking robots in the Middle East and Europe. The robots automate and standardize cooking for chain restaurants, reducing ingredient loss and energy consumption. Botinkit's technology aids restaurants' cross-regional expansion by reducing the need for a large kitchen staff, making it an attractive option for franchise restaurants. The company plans to develop multimodal sensors and eventually incorporate artificial general intelligence to refine cooking processes based on customer preferences.

Jow Raises $13M in Additional Funding

Finsmes · 1y ago

Jow Raises $13M in Additional Funding

Paris-based grocery shopping app, Jow, has raised $13 million in additional funding to expand into the US. The app combines retail media, consumer data, and algorithms to help users plan meals and shop for groceries efficiently. With over 6 million users worldwide and partnerships with major retailers such as Auchan, Carrefour, and Intermarché, Jow aims to streamline the meal planning and grocery shopping experience. The funding round was backed by investors including Northzone and Eurazeo.

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