FarmDroid funding news -Danish-based FarmDroid Raises €10.5 Million in Funding
Oct 22, 2024 | By Kailee Rainse
FarmDroid is a leader in making solar-powered robots for farming. The company has raised €10.5 million to help it grow globally. This funding round was led by Convent Capital, with support from EIFO and Navus Ventures, totaling nearly DKK 80 million.
The FarmDroid robot can plant seeds, remove weeds and use less pesticide thanks to a new micro spray system. All while operating continuously in the field, powered by solar energy. Now, it is set to expand further globally targeting both organic and conventional open-field farming enhancing efficiency and promoting sustainable agriculture.
Reshaping the future of agriculture
Farmers today face significant structural challenges that are reshaping the future of agriculture. This includes the need to cut down on chemical use, reduce reliance on manual labor, and lower operational costs. FarmDroid, based in Vejen, Denmark, has developed a lightweight, easy-to-use, and affordable robot that can tackle many of these challenges. As the world’s best-selling solar-powered field robot it offers a sustainable alternative to traditional farming methods and plays an important role in the green transition.
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By greatly reducing the need for chemicals and labor costs FarmDroid’s autonomous robot helps farmers adopt more sustainable practices while improving productivity. The robot can sow seeds, weed, and spray precisely, and it works around the clock on its own.
It supports eco-friendly farming by using mechanical weed removal and precise spraying, which helps maintain soil health and significantly cuts down on operational costs. Having proven its effectiveness primarily on organic farms, the recent introduction of the spot spraying application now opens the door to broader adoption in conventional farming. With mechanical weeding, it reduces certain pesticide use by up to 100 per cent compared to conventional methods.
Strengthening of FarmDroid’s position
René Jannick Jørgensen, CEO of FarmDroid said, “We are incredibly proud to have closed this investment, which will strengthen FarmDroid’s position and provide opportunities to develop and expand the use of agricultural robots. This investment contributes both with competencies and financial resources dedicated to scaling the business, increasing our impact, and promoting sustainable and economically attractive solutions for agriculture,”
The founders are excited to welcome the new investors as they join FarmDroid on its journey to grow. “In the process, it has been important for us to find the right partners who understand the DNA of FarmDroid, share our vision, and want to join us on the journey ahead.
With Convent Capital, Navus Ventures, and EIFO on board, while we as founders remain the primary owners, we are geared for the next steps on the journey. We have surpassed 500 robots – now the next milestone is 1,000,” said Jens and Kristian Warming, the founders of FarmDroid.
Positive environmental impact
The investment aligns perfectly with the strategies of the three participating investors, each of whom recognises the potential of FarmDroid’s technology to reshape modern agriculture and make a positive environmental impact.
About FarmDroid
FarmDroid was founded by brothers Jens and Kristian Warming from Vejen, who built the first prototype themselves from scrap parts. It is the world’s best-selling sowing and weeding robot with over 500 robots sold in more than 20 countries across three continents. The propulsion is provided by electric motors powered by solar panels mounted above the robot.