Agriculture is an important business, but also one of the more climate-burdening ones via CO2 emissions, but the industry also has a large consumption of chemicals. Robots can solve a number of these challenges and one of the companies that has taken up that challenge is the Vejen-based company FarmDroid, which has developed a versatile robot for agriculture.
The company has now secured financing from Denmark's Export and Investment Fund (Eifo), as in Convent Capital and Navus Ventures, which have jointly provided DKK 10.5 million. euros available to the company.
FarmDroid's field robot is already the world's best-selling and is powered by solar cells. It thus has no emissions, and it therefore contributes to the green transition. The robot can sow, weed, precision spray and drive around the clock. FarmDroid's autonomous robot also promotes sustainable agriculture by minimizing chemical use through mechanical weeding and precision spraying. The technology preserves the health of the soil and also lowers labor costs.
Therefore, FarmDroid fits very well into Eifo's portfolio, and the investment therefore also fits very well into Eifo's strategy to contribute to the green transition.
- FarmDroid is a strong addition to Eifo's portfolio, as the company fits perfectly into our strategy to support the green transition with innovative solutions. FarmDroid drastically reduces the use of pesticides, while at the same time being an economically attractive solution for agriculture, says Caroline Søeborg Ahlefeldt, investment manager at Eifo.
At FarmDroid, both the director and founders are very satisfied with the investment from the three involved.
- We are incredibly proud to have closed this investment, which will strengthen FarmDroid's position and opportunities to develop and expand the use of agricultural robots. This investment contributes both skills and financial resources, which are dedicated to scaling the business, to increase our impact and promote sustainable and economically attractive solutions for agriculture," says René Jannick Jørgensen, CEO of FarmDroid.
FarmDroid has previously received support through the Green Accelerator and export financing through the former EKF, which is now part of Eifo.
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