Ecorobotix, the Swiss manufacturer of ARA, an AI powered plant-by-plant recognition and precision smart spraying system, announced the completion of a $52 million (CHF 46 million) funding round.
Ecorobotix will use the new capital to expedite the growth of ARA worldwide, particularly in the Americas; the company currently has customers in 15 European markets. The capital will also help reinforce the company’s mission to radically change agriculture for the better by offering smart, innovative, and sustainable crop treatment solutions.
For this financing Ecorobotix worked with UBS Growth Advisory and Oaklins France as advisors. The capital raise included $48.3M (CHF 43.1M) of new equity and $3.4M (CHF 3M) of new financing facilities thanks to the FOEN Swiss Technology Fund. The new capital will enable Ecorobotix to grow into new markets, expand the product range, and build on the existing commercial success of ARA in Europe.
The funding round was jointly led by AQTON Private Equity GmbH and Cibus Capital LLP, with additional investments from Swisscanto Invest/Swisscanto Growth Fund I, Yara Growth Ventures, Flexstone Partners, and from existing investors including Swisscom Ventures, BASF Venture Capital, 4FOX Ventures, and Verve Ventures. The funding will accelerate Ecorobotix’s geographic expansion across new and existing markets and accelerate new product development.
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