Agriculture robotics startup Niqo Robotics raises $13M in a Series B round

Bengaluru-based agriculture robotics startup Niqo Robotics has raised $13 million in a Series B funding round led by Brida Innovation Ventures.

The round also saw participation from new investor Fulcrum Global Capital and existing investor Omnivore.

So far, the robotics startup has raised a total of $21 million in funding through various rounds, including a $5 million Series A round in August 2021 and a $2 million Seed round in 2019.

What does Niqo Robotics do?

Niqo, formerly known as TartanSense, specializes in creating compact agricultural robots equipped with AI-driven computer vision technology.

The startup has developed a proprietary AI camera that uses deep learning models to precisely identify and spray target plants, significantly reducing chemical usage by up to 90%. 

This technology has been commercialized across over 90,000 acres of land, benefiting more than 1,800 farmers in the fiscal year 2023-24 by reducing chemical expenses by up to 60%.

Expanding into new markets

According to founder and CEO Jaisimha Rao, Niqo Robotics plans to expand to new markets and accelerate the commercial adoption of their spot spray technology globally.

"With the Series B fund closure, we are made stronger by a syndicate of investors with deep agricultural expertise from three different continents," Rao said.

Differentiating from competitors

Despite being in a competitive sector with players like Zenrobotics, SwarmFarm, and Ecorobotis, Niqo Robotics distinguishes itself with innovative solutions aimed at sustainability and cost-effectiveness.

The startup is focused on farmer-first solutions and sustainable agriculture.

What did investors say about Niqo Robotics?

Yassine Cherkaoui, CEO of Bidra Innovation Ventures, said farmer-first solutions, like Niqo’s AI-powered spot spraying technology, are essential for sustainable agriculture.

“We are thrilled to lead this investment round and help put Niqo’s cutting-edge technology in the hands of more farmers. This aligns perfectly with Bidra’s mission to support founders who develop innovative solutions to sustainably feed a growing population,” Cherkaoui said.

Mark Kahn, Managing Partner, Omnivore, said: “At Omnivore, we believe global agri food systems increasingly need climate-smart deep tech solutions. Our continued investment in Niqo underlines our vision that farm robotics can optimize resources and meaningfully increase farmer profits.”

Duane Cantrell, Managing Partner and CEO of Fulcrum Global Capital, said, “Niqo Robotics is our first investment in an India-based company. We are confident that Niqo’s technology has the potential to scale and benefit farmers worldwide. Spot spraying is a win-win for the entire farming ecosystem and with our industry expertise and strategic partners, we can help fuel Niqo’s global growth.”