Bengaluru Startup Niqo Robotics raises $13 million in Series B funding

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Niqo Robotics, a Bengaluru-based agriculture robotics start-up, has closed $13 million in Series B funding led by Bidra Innovation Ventures. The round also saw investments from new investor Fulcrum Global Capital and existing investor Omnivore. This brings Niqo’s total fundraising to $21 million.

A media statement said Niqo is transforming the landscape of agrochemical spraying by developing precision spot spray technology. Niqo’s solution 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. This increases profitability for farmers and reduces chemical pollution on farm and food ecosystems, it 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, it said.

Quoting Jaisimha Rao, Founder and Chief Executive Officer (CEO) of Niqo Robotics, the statement said: “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.”

Climate-smart deep tech solutions

Yassine Cherkaoui, CEO, Bidra Innovation Ventures, said 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,” Cherkaoui said.

Mark Kahn, Managing Partner, Omnivore, said: “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, said: “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.”