Danish agricultural robotics company Agro Intelligence (Agrointelli) has raised €14.5 million (US$17 million) in an equity investment round co-led by Nordic Alpha Partners and Vaekstfonden, the Danish State’s investment fund. The funding will be used to scale production of its ‘Robotti’ autonomous implement carrier for arable plant production, as well as accelerate the company’s international growth plans.
While most agricultural robots are dedicated to a single function or require the farmer to exclusively commit to closed systems, Agrointelli’s approach is to combine artificial intelligence, machine vision and robotics into a flexible platform solution that is built from the ground up to answer the core needs and challenges of farm owners – while helping them improve their environmental footprint.
The company’s lightweight Robotti autonomous tool carrier attaches to and controls implements and equipment already owned and understood by the farmer, who can use Robotti for activities such as tillage, seeding, weeding and precision spraying. Performance of up to 3ha/hr is achievable, depending on the task being carried out, according to the company.
Robotti is already available to Danish farmers
Since the end of August, Danish farmers have been able to rent Robotti for NOK 300 per hectare (US$32 per hectare) via FarmBackup, Denmark’s largest online marketplace for hiring agricultural machinery.
“This investment from Vaekstfonden and Nordic Alpha Partners will enable us to produce and distribute our robotic agricultural platform at scale, making it possible for us to capitalise on the growing international interest in our products and services,” said Agrointelli’s CEO and founder, Ole Green. “We have seen in the field the concrete environmental and economic benefits our robotic platform produces for farmers and are extremely excited to have the opportunity now to bring Robotti to farmers across the globe.”
“At Nordic Alpha Partners, we are very satisfied with the investment in Agrointelli,” added Jakob Fuhr Hansen, investment partner, Nordic Alpha Partners. “The company is a fantastic representative of how automation and digitisation of an industry can increase its production output, while significantly reducing the CO2 footprint. In addition, the investment is a good example of how Nordic Alpha Partners’ Value Creation Model can take Danish industrial technology globally in syndication with Vaekstfonden – and we look forward to continued close cooperation.”
“Agrointelli clearly represents the kind of company that will ensure and enhance Denmark’s continued global position as an agricultural country and food producer,” concluded Rolf Kjaergaard, CEO at Vaekstfonden. “This is one of our biggest export areas and one where we must keep innovating and growing – and that is exactly what Agrointelli is doing. They have created a cutting-edge solution able to make a huge difference for global agriculture, which faces future challenges in terms of providing food for an increasing global population while staying within the boundaries of our natural resources. So I am very pleased that Agrointelli is also the first direct investment under The Danish Green Future Fund.”