October 21, 2019

By Lynda Kiernan

French robotics startup TIBOT Technologies announced it has raised a second funding round totaling EUR3 million (US$3.35 million) to further develop its robotic applications for the poultry industry. 

This round included Demeter’s Agrinnovation Fund and Seventure Partners, and its historic investors, Breizh Up and Crédit Agricole Ille-et-Vilaine Expansion, as well as its banking partners: Caisse régionale de Crédit Agricole d’Ille-et-Vilaine, BNP Paribas, and Crédit Mutuel de Bretagne.

Headquartered in Brittany, France, TIBOT is a pioneering agtech startup developing robotic solutions for poultry farmers that will increase returns, improve working conditions, and help producers better meet animal welfare expectations and standards.

Since its launch in 2017, the company has been working as close to the field as possible to be able to best account for the inherent restraints associated with poultry production. Its first poultry assistance robot, Spoutnic, was a project started by poultry farmers Laetitia and Benoit Savary, who wanted to reduce the rate of floor-eggs (eggs laid in non-nest locations that have higher levels of contamination and bacteria). Spoutnic’s ability to quickly collect floor-eggs not only reduced the number of contaminated eggs, but also reduced the amount of human labor needed on-site. This robot went on to be the jury’s favorite at SPACE 2016, receiving a three-star INNOV’SPACE award.

The company’s second robot, Spoutnic NAV, uses an indoor navigation system to “herd” the flock, moving it in natural patterns for chicks, thereby increasing their weight gain and nutritional uptake. It is also able to aerate the flock’s bedding to reduce conditions that cause fermentation and a lack of health for the birds.

“TIBOT Technologies’ robots provide an innovative response to the new challenges of poultry farming,” said Riadh Shaiek, partner at Demeter, and Isabelle de Cremoux, chairperson of the Board, Seventure Partners.

“The sector is growing rapidly, and it is undergoing a profound transformation. Of course, production must rise to deal with global population growth, but it is important to produce better, so as to meet consumer expectations and the need to take animal welfare into account. And all this must be done in a context of scarce agricultural manpower.”

In only a few short years TIBOT has established itself as a leading provider of poultry industry robotics, and has already sold its solutions in 15 countries, including to major producers such as Hubbard, Le Helloco, Agrial, LDC, Prodavi, and ISHII, resulting in the company’s turnover, which is 70 percent export-derived, more than doubling between  2017 and 2018.

“We are proud to support the company whose management has a clear vision of the development of the sector and has thus developed products that offer very pragmatic responses to the needs of poultry farmers,” said Shaiek and de Cremoux.

With this fresh funding, the company states that it has two objectives: to accelerate its international business development, and to enhance its offerings with new innovations that continue to answer the needs expressed from the field.

“We couldn’t be happier with this support,” said Yanne Courcoux, co-founder and president of TIBOT Technologies. “Demeter – through the Agrinnovation fund – and Seventure provide us with financial resources but, more importantly, with strategic experience in the AgTech sector and an international network.”

Stéphane Lefevre-Sauli, Sofimac Innovation’s investment director in charge of the Breizh Up fund, and Arnaud Douard, managing director of Crédit Agricole Ille-et-Vilaine Expansion, added, “We were quickly seduced by the technology developed by TIBOT, by the team’s positioning, market potential and complementarity.”

“Thanks to its founders, the in-depth knowledge of the poultry business is in the company’s DNA. It is now taking things up to the next level, and we are pleased to continue our support.”

– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.