Vejen-based FarmDroid, a Danish company specialising in autonomous, solar-powered agricultural robots for weed control, has raised €10.5M to accelerate its global expansion.
The round was led by Convent Capital with support from EIFO and Navus Ventures. The investment aligns with the strategic goals of all three investors, who see the potential for FarmDroid’s technology to transform modern agriculture and contribute to positive environmental impacts.
Steven Bernaert, Principal at Convent Capital, says, “At Convent Capital, we value solutions that are both practical and impactful. In our view the FarmDroid team developed a farming tool that stands out in its simplicity and effectiveness, making it one of the bestselling autonomous solutions in the market today.”
“By significantly reducing chemical inputs while at the same time increasing crop yields, FarmDroid’s robots bring significant positive environmental impact. But above all, we have truly enjoyed working with the FarmDroid team over the past months and look forward to strengthening our partnership now that we have officially joint forces.”
Automating agriculture
Farmers are increasingly challenged by the need to reduce chemical inputs, lower labour dependence, and cut operational costs. FarmDroid, founded by brothers Jens and Kristian Warming, offers a solution through its autonomous, solar-powered robot.
FarmDroid’s technology addresses key agricultural issues by providing sustainable and cost-effective alternatives to traditional methods.
The FarmDroid FD20 is a solar-powered, autonomous field robot designed for seeding and plant protection. It uses high-precision RTK technology with 8mm accuracy to mark crop placement and perform mechanical weed control.
The FD20 is equipped with four solar panels that power a battery package, allowing for up to 24 hours of daily CO2-neutral operation. This design eliminates the need for external battery charging, enabling the robot to work continuously in the field throughout the entire season.
The robot also features a spot spraying system for conventional farming, reducing the need for chemicals. Its modular design allows for adjustments to suit various field requirements, enhancing productivity and sustainability while minimising manual labour.
With over 500 units sold across more than 20 countries, FarmDroid claims that its technology has proven successful, particularly in organic farming. Its new spot-spraying feature has expanded its potential into conventional farming, where it can reduce pesticide use by up to 100 per cent.
FarmDroid promotes eco-friendly farming practices while helping farmers lower costs and transition toward more sustainable agriculture.
Capital utilisation
FarmDroid plans to extend its reach into both organic and conventional open-field farming, aiming to boost efficiency and promote sustainable agricultural practices worldwide.
René Jannick Jørgensen, CEO of FarmDroid, says, “We are incredibly proud to have closed this investment, which will strengthen FarmDroid’s position and provide opportunities to develop and expand the use of agricultural robots.”
“This investment contributes both with competences and financial resources dedicated to scaling the business, increasing our impact, and promoting sustainable and economically attractive solutions for agriculture.”
Jens and Kristian Warming, add, “In the process, it has been important for us to find the right partners who understand the DNA of FarmDroid, share our vision, and want to join us on the journey ahead.”
“With Convent Capital, Navus Ventures, and EIFO on board, while we as founders remain the primary owners, we are geared for the next steps on the journey. We have surpassed 500 robots – now the next milestone is 1,000.”
Brief about the investors
Convent Capital is a Dutch investment firm with a long-term focus. Its €140M Agri Food Fund, which supported the FarmDroid investment, specialises in backing companies that promote sustainability and drive positive environmental impact in the Food and Agri sector.
Navus Ventures, part of a family office connected to Lely (Farming Innovators), focuses on high-tech startups and scale-ups driving sustainable transitions in food and energy. It invests through both typical VC structures and longer-term holdings.
Eduard Meijer, MD at Navus Ventures, says, “We see FarmDroid as a frontrunner in robotisation of arable farming, enabling more sustainable and long-term productive practices. Their pragmatic and farmer-oriented technology has been tested in the field for years as they established an impressive customer base. We are looking forward to our collaboration and see a strong match with our background in the automation and robotisation of agriculture.”
EIFO, Denmark’s national promotional bank and export credit agency, operates in over 100 countries with a business volume exceeding €20B. It provides financial solutions for Danish companies and their global partners, while also investing in startups and funds. EIFO focuses on accelerating the green transition, promoting new technologies, and supporting Danish industries, including defense.
Caroline Søeborg Ahlefeldt, Investment Manager at EIFO, says, “FarmDroid is a strong addition to EIFO’s portfolio as the company fits perfectly into our strategy of supporting the green transition with innovative solutions. FarmDroid drastically reduces the use of pesticides while being an economically attractive solution for agriculture.”
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