Norwegian technology company Saga Robotics has successfully raised $11.5 million in growth capital through an equity transaction. The funding round saw continued support from existing shareholders, including Nysnø Climate Investment, Aker, Rabo Ventures, Hatteland, Melesio Capital, and Sanden. Additionally, new shareholders Songa Investments, a part of Blystad Group, and MP Pensjon have joined the company. Founder Pål Johan From will remain one of the main shareholders.
Saga Robotics specializes in artificial intelligence-powered robots, with its flagship product named Thorvald. These autonomous robots play a crucial role in reducing plant diseases and promoting sustainable food production. By leveraging Thorvald’s capabilities, farmers can achieve lower CO2 emissions and a remarkable 60-90% reduction in pesticide usage.
The recently raised capital will be utilized to propel Saga Robotics’ growth in American vineyards. The company also aims to continue expanding its presence and strengthening its position in British strawberry farms. Moreover, the funds will be allocated towards the development of new tools and data services.
In the United Kingdom, Saga Robotics has already secured contracts with major players in strawberry production. As a result, the treated area has significantly increased compared to the previous year. This success in the UK has set the stage for Saga Robotics to tap into the vast American wine market, where Thorvald is already being utilized by customers.
To facilitate scaling and meet the demands of larger agricultural areas, Saga Robotics has introduced a new generation of the Thorvald robot, aptly named Thorvald 3. This upgraded version operates more efficiently and is designed for both scaled production and operation. One of its key features is the use of high-intensity UV-C light, which effectively combats the fungus powdery mildew without the need for pesticides. Additionally, Thorvald 3 is equipped with cameras that collect images and information from each plant, enabling advanced crop prediction capabilities.
Already in use in the UK, Thorvald performs various tasks in strawberry production, including cutting runners and spreading predatory mites. Furthermore, the robot is actively collecting valuable data for further analysis and optimization.
The successful funding round and the introduction of Thorvald 3 mark significant milestones for Saga Robotics. With the support of its shareholders, the company is well-positioned to expand its operations and make a lasting impact on sustainable agriculture. By reducing plant diseases, minimizing pesticide usage, and collecting valuable data, Saga Robotics is playing a vital role in promoting more environmentally friendly and efficient farming practices.
As the global demand for sustainable food production continues to rise, Saga Robotics’ innovative solutions have the potential to revolutionize the agricultural industry. With its focus on reducing CO2 emissions and promoting sustainable practices, Saga Robotics is at the forefront of the agritech sector’s efforts to address the pressing challenges facing our food systems.