TLDR:
- Niqo Robotics, an agritech robotics firm, raised $9 million in funding led by Brida Innovation Ventures.
- The company aims to revolutionize crop care spraying in agriculture using AI-powered technology.
Niqo Robotics, an agritech robotics firm based in Bengaluru, recently secured $9 million in funding in a round led by venture capital firm Brida Innovation Ventures. The company, which had experienced a three-year funding pause, issued 8,577 shares at an issue price of Rs 87,090 each. Brida Innovation Ventures invested Rs 41.5 crore in the round, with other investors like Omnivore Partners contributing Rs 33.2 crore. The company’s founder, Jaisimha Rao, remains a significant shareholder, while Omnivore Partners now holds the largest stake in the company at 25.7 percent.
Niqo Robotics aims to transform crop care spraying in agriculture through their AI-powered Spot Spray Technology, which uses a proprietary agriculture camera. This technology allows for targeted plant spraying without wastefully spraying on soil, promoting both financial and environmental sustainability. The company, formerly known as TartanSense, rebranded to Niqo Robotics last year. Rao emphasized the company’s hunger for success in the robotics and agriculture ecosystem, noting India’s leadership in commercializing AI-powered spraying at scale.
With this recent funding round, Niqo Robotics has raised a total of $16 million, including a $5 million Series A round in 2021. Investors in previous rounds include Omnivore Partners, Blume Ventures, and FMC. The company’s innovative approach to crop care and dedication to technological advancement position them as a promising player in the agritech industry.
