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

EntrackrEntrackr · 1y ago
Niqo Robotics raises $13 Mn in Series B round to scale globally
Medial

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.

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

EntrackrEntrackr · 1y ago
Exclusive: Niqo Robotics raises $9 Mn in a new round
Medial

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.

Deep-tech startup VyomIC bags $1.6 Mn led by Speciale Invest

EntrackrEntrackr · 9d ago
Deep-tech startup VyomIC bags $1.6 Mn led by Speciale Invest
Medial

Deep-tech startup VyomIC has raised Rs 14 crore (about $1.6M) in a pre-seed funding round led by Speciale Invest along with participation from BYT Capital and DeVC. The proceeds will be used to advance the development of its LEO-based PNT (Positioning, Navigation, and Timing) payload, support its spaceborne demonstration mission, and scale team hiring and business development efforts, VyomIC said in a press release. Co-founded by Lokesh Kabdal, Vibhor Jain and Anurag Patil, VyomIC builds satellite constellations to deliver highly accurate, secure, and sovereign Positioning, Navigation, and Timing (PNT) services from Low Earth Orbit. It aims to power the next generation of autonomous systems, secure infrastructure, and mission-critical operations with centimeter-level positioning and nanosecond-level timing without relying on foreign-controlled navigation networks like GPS or GLONASS. VyomIC’s LEO-PNT system integrates onboard atomic clocks, encrypted signal layers, and AI-powered orbit determination algorithms to offer real-time, high-integrity navigation, especially in urban, contested, or GNSS-denied environments. Its signal architecture is designed to be jamming-resistant and spoofing-proof, making it ideal for defence, finance, aerospace, telecom, and beyond. The Chennai-based company’s technology aims to deliver spoofing-proof and jamming-resistant signals, overcoming the fragility of existing systems like GPS, GLONASS. With LEO satellites, the system offers high precision, faster convergence, stronger signal power, and better coverage in urban and signal contested environments. VyomIC plans to launch a full-fledged constellation to serve global users with secure, real-time navigation and timing services.

Irame.ai bags $1 Mn in seed round from SenseAI Ventures

EntrackrEntrackr · 6m ago
Irame.ai bags $1 Mn in seed round from SenseAI Ventures
Medial

Irame.ai, an AI-powered enterprise productivity and audit intelligence platform, has secured $1 million in its seed round from SenseAI Ventures, an AI-first venture capital fund. The proceeds will be used to accelerate Irame.ai to transform audit automation, anomaly detection, and enterprise compliance through AI-driven insights. Founded by Kapil Arora, Irame.ai streamlines the knowledge processing and forecasting process. The framework enables users to design, develop, and launch AI-driven applications without coding. Its approach claims to deliver audits up to 3-4x faster while significantly reducing costs helping enterprises modernize governance with efficiency. Built by Rahul Agarwalla and Raja Gopalakrishnan SenseAI Ventures is a Rs 200 crore fund.

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