Bengaluru-based agritech startup Niqo Robotics has secured $13 million in Series B funding led by Bidra Innovation Ventures, with contributions from Fulcrum Global Capital and Omnivore. This brings Niqo’s total funding to $21 million across Series A and B rounds.
The Series B funding round was completed in two tranches: $9 million initially and an additional $4 million. Existing investor Omnivore also participated. Niqo’s robust funding highlights investor confidence in the startup’s vision and technology.
Founded in 2015 by Jaisimha Rao, Niqo Robotics specializes in precision agrochemical spraying. The startup can identify and selectively spray agrochemicals on target plants using proprietary AI cameras and deep learning models, avoiding soil contamination. This technology significantly reduces chemical usage by up to 90 percent.
“With the Series B fund closure, we are made stronger by a syndicate of investors with deep agricultural expertise from three continents. With their backing, we will expand to new markets and accelerate the global commercial adoption of spot spray,” said Rao.
Significant Impact of Niqo Robotics
Niqo Robotics’ AI-driven solution integrates seamlessly with existing farm equipment, making it easy for farmers to adopt. In the 2023-24 fiscal year, the startup commercialized over 90,000 acres, achieving real-time chemical savings of up to 60 percent and benefiting more than 1,800 farmers. These advancements help increase profitability for farmers while reducing chemical pollution in farm and food ecosystems.
Yassine Cherkaoui, CEO of Bidra Innovation Venture, said, “Farmer-first solutions like Niqo’s AI-powered spot spraying technology are essential for sustainable agriculture. This aligns perfectly with Bidra’s mission to support founders who develop innovative solutions to sustainably feed a growing population.”
Niqo Robotics’ success aligns with broader trends in agricultural innovation. For instance, the Uttar Pradesh government recently collaborated with local agriculture stakeholders to enhance agritech startups and integrate AI into farming practices.
With the fresh funding, Niqo Robotics aims to expand its reach and further develop its technology, continuing to substantially impact sustainable farming practices globally.
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