October 31, 2024

By Gerelyn Terzo, Global AgInvesting Media

Vejen, Denmark-based FarmDroid, which is behind autonomous, solar-powered agricultural robots, has secured €10.5 million (US$11.4 million) in its latest fundraising round. Led by Convent Capital, the round also extended to EIFO and Navus Ventures. FarmDroid’s robot has mastered skills like sowing, weed removal and reducing pesticide usage with a new micro-spray system that operates autonomously 24/7, and is powered by solar energy. The company plans to direct the proceeds toward a global expansion push in which it will target both organic and conventional open-field farming to promote sustainable agriculture.

Applying a combination of mechanical weeding and conventional weed control methods, FarmDroid’s micro-spraying technology is changing the way fields are seeded, weeded and micro sprayed with precision. The FarmDroid FD20 sprays plant protection substances directly onto plants where needed, reducing the need for protective substances by 94 percent, benefiting the environment while lowering operational costs for growers. Having tested its mettle on organic farms, FarmDroid is now eyeing broader industry adoption including conventional farming, where the technology slashes certain pesticide use by up to 100 percent compared with traditional practices.

Founded in 2018, FarmDroid is looking to double the size of its robot army, which currently operates across nearly two-dozen countries. Founders Jens and Kristian Warming stated, “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.”

FarmDroid’s ag robots, whose features include intuitive, lightweight and affordable, are designed to solve several pain points for farmers, not least the desire to slash chemical inputs, less need for manual labor and lower operational costs. The company positions it as a “sustainable alternative to traditional farming methods,” touting its critical role in the green transition.

FarmDroid CEO René Jannick Jørgensen 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 competences and financial resources dedicated to scaling the business, increasing our impact, and promoting sustainable and economically attractive solutions for agriculture.”

Steven Bernaert, principal at lead backer Convent Capital, commented, “In our view the FarmDroid team developed a farming tool that stands out in its simplicity and effectiveness, making it one of the bestselling autonomous solutions in the market today. By significantly reducing chemical inputs while at the same time increasing crop yields, FarmDroid’s robots bring significant positive environmental impact. But above all, we have truly enjoyed working with the FarmDroid team over the past months and look forward to strengthening our partnership now that we have officially joint forces.”

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