Bengaluru-based agriculture robotics start-up, Niqo Robotics, has raised $13 million in Series B funding led by Bidra Innovation Ventures. The round also saw investments from Fulcrum Global Capital and Omnivore, bringing Niqo’s Series A and Series B fund-raising to $21 million.
Founded in 2015 by Jaisimha Rao, Niqo Robotics is an agri-tech start-up that uses computer vision, deep learning, and AI to selectively spray agrochemicals on the target plant without spraying on soil.
“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,” Rao said.
The start-up uses a proprietary AI camera with deep learning models to identify and selectively spray on target plants, reducing chemical usage by up to 90 per cent. The technology integrates with existing farm equipment and helps increase profitability for farmers and reduce chemical pollution on farm and food ecosystems.
A statement by the start-up said in 2023-24, Niqo commercialised over 90,000 acres, demonstrating real-time chemical savings of up to 60 per cent and benefiting over 1,800 farmers.
Yassine Cherkaoui, CEO, Bidra Innovation Venture, said, “Farmer-first solutions like Niqo’s AI-powered spot spraying technology are essential for sustainable agriculture. This aligns perfectly with Bidra’s mission to support founders who develop innovative solutions to sustainably feed a growing population.”
(Inputs from bl intern Vidushi Nautiyal)