Small Robot, a UK-based ag-tech that is building sustainable farming robots, has successfully secured more than £1 million through its latest equity crowdfunding campaign on Crowdcube. The funding round was launched last month and quickly secured its £700,000 funding target, with £560,000 was topped within minutes after the campaign went live.
As previously reported, Small Robot has transitioned from prototype to commercial service, using an autonomous robot and their AI software to deliver a weed map to paying customers. The company further explained:
“Imagine a world in which we could use swarms of lightweight, smart machines to replace tractors and make food production more accurate, sustainable and profitable. Small Robot Company is building the technology to make this happen. Our three small robots, Tom, Dick and Harry and our AI brain Wilma will plant, monitor and treat arable crops autonomously.”
The latest funding round comes just one year after Small Robot secured £1,173,940 through its previous Crowdcube campaign. The company reported since that funding round, it has achieved its aim of moving from proof of concept to commercially-ready prototype. The new raise will help it to begin manufacturing its robots with its partners, Tharsus.
“Today, we are delivering an AI-generated field map which has the potential to show the exact location of every plant and all of the weeds on UK farms, and we believe we are the first to market with a product of this sort. This year we aim to demonstrate our ability to kill these weeds autonomously without using chemicals.”
Small Robot is currently offering 8.05% in equity at an £8 million pre-money valuation through the campaign, which is set to close next week.
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