Niqo Robotics raises $13M to scale AI agro-spraying tech globally

New Delhi: Niqo Robotics, a pioneering agriculture robotics startup headquartered in Bangalore, India, has successfully secured $13 million in Series B funding, led by Bidra Innovation Ventures.

The round also saw substantial contributions from new investor Fulcrum Global Capital and existing investor Omnivore, bringing Niqo’s total fundraising to $21 million. This funding marks a significant milestone for Niqo as it continues to scale its AI-powered agricultural spot spraying technology globally.

Niqo Robotics is revolutionizing agrochemical spraying with its precision spot spray technology. By utilizing a proprietary AI camera equipped with deep learning models, Niqo can accurately identify and selectively spray target plants, reducing chemical usage by up to 90%. This innovative approach not only increases profitability for farmers but also minimizes chemical pollution on farm and food ecosystems. Traditional blanket spraying methods are financially and environmentally unsustainable due to excessive chemical usage, making Niqo’s spot spray technology a crucial advancement in sustainable agriculture. Moreover, Niqo’s solution seamlessly integrates with existing farm equipment, making the transition to AI-powered spot spraying effortless for farmers.

In the fiscal year 2023-24, Niqo achieved significant commercial success by covering over 90,000 acres and delivering real-time chemical savings of up to 60%, benefiting over 1800 farmers. This achievement solidified Niqo’s position as a global leader in agricultural spot spray technology.

Jaisimha Rao, Founder, and CEO of Niqo Robotics expressed his gratitude for the support, “With the Series B fund closure, we are made stronger by a syndicate of investors with deep agricultural expertise from three different continents. “With their backing, we will expand to new markets and accelerate the commercial adoption of spot spray, globally.”

Yassine Cherkaoui, CEO of Bidra Innovation Ventures, highlighted the importance of farmer-first solutions, stating, l“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.”

Mark Kahn, Managing Partner at Omnivore, emphasized the significance of investing in climate-smart deep tech solutions. He reiterated, “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 expressed confidence, “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.”