Toulouse, France-based agricultural robotics company Naïo Technologies has closed a USD$33 million (€32m) fundraising to accelerate its industrial and commercial growth.
Founded in 2011, Naïo Technologies develops, manufactures and markets autonomous robots for agriculture, working closely with farmers and winegrowers. These solutions tackle labour shortage, reduce physical strains, and help to reduce soil erosion and the carbon footprint of farming and herbicides use.
In 2013, the first unit of Oz, the farming assistant, was sold and joined in 2018 by Ted, the first vineyard robot. In 2016, Naïo Technologies launched FIRA, the biggest global agricultural robotics event, and three years later opened its U.S. subsidiary company in Salinas, California, to focus on key agricultural hubs in North America.
This year, Naïo launched two new products, Orio and Jo. The company employs 70 people and trades in 20 different countries through a dealer network. The funding will accelerate its international expansion and more than double its fleet in operation over the next two years.
Led by Mirova, the affiliate of Natixis Investment Managers, this new round features previous shareholders including the Ecotechnologies Fund, managed on behalf of the French State by Bpifrance within the France 2030 plan, Capagro, Demeter, Pymwymic and Codema. Regional funds M Capital and ARIS Occitanie joined as new investors.
Read more about Naïo Technologies and other agricultural robotic companies in New AG International’s March-April 2022 feature story, here.
Read the latest issue of New AG International (Nov-Dec 2022), here.