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The UK’s Small Robot Company Equity Crowdfunds its Precision Ag Robots

by Chris Albrecht
January 16, 2020January 16, 2020Filed under:
  • Ag Tech
  • Behind the Bot
  • Funding
  • Robotics, AI & Data
  • Uncategorized
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Based in the UK, the Small Robot Company is actually making its second trip to the crowd for money, and launched its second such campaign earlier this week on CrowdCube.

Equity crowdfunding is a trend we’re watching closely this year. That’s where instead of traditional venture capital, startups let everyday people (with certain restrictions) invest in and receive an actual piece of the company.

Small Robot makes precision agriculture robots that the company hopes will eventually move farmers away from broad chemical spraying of crops and monoculture of plant species in fields. Small Robot has a multi-part, autonomous robot solution it’s building that includes:

  • Tom uses cameras and computer vision to precisely map a field of its plants and weeds
  • Wilma is the AI that analyzes those images to gather per-plant intelligence and weed identification
  • Dick is an autonomous weed zapper that is armed with an electric wand and information from Wilma to precisely electrocute individual weed without the need for chemicals
  • The company will eventually add a third robot, Harry, to its lineup that will do no-till drilling.

Small Robot’s “Tom” robots are currently in the working prototype phase, and in use on 20 farms in the UK. The company aims to ramp up production and manufacturing this year and go live on more farms by the end of 2020.

I spoke with Sam Watson Jones, Co-founder, Small Robot Company by phone this week, and he said his ultimate goal is to empower farms with precision agriculture to such a degree that it’s done on a plant-by-plant level. Farmers will know where each individual seed is planted and automate custom care for each plant as it grows. This means reducing fertilizer use, and planting a variety of crops next to each other to limit the spread of crop disease, maintain nitrogen levels and pollinate more efficiently.

To help it get there, Small Robot is turning to the crowd, again. Previously the company received £1.4 million in non-equity funding from a UK government innovation fund, and in 2018 raised £1.2 million in equity crowdfunding through the CrowdCube platform.

On Monday of this week, Small Robot kicked off its second CrowdCube campaign and has already met its goal of raising £700,000. I asked Watson why his company didn’t go with the traditional VC route this time.

“VCs are a bit different in the UK,” he said, “There are very few early stage VCs to fund stuff that requires more development. We knew we had a load of farmers who were excited about what we could develop. ” Crowdfunding, Watson said “allowed us to get angels and people who would put ten quid in. It’s been a good forum for us to capitalize on the branding and PR.”

As with any investment, there are risks involved, and given that this crowdfunding is happening in the UK, there are restrictions around where people can invest from and how much. Check the campaign’s details for more information.

Small Robot Company is actually the second robotics company we’ve covered that has gone the equity crowdfunding app. On the other end of the meal journey is Miso Robotics, the maker of Flippy, which is using SeedInvest to try and raise a $30 million Series C round.

Small Robot will definitely need to beef up its warchest as it looks to expand outside the UK. Other players in the autonomous precision ag and weed-killing robot space include Australia’s Agerris, which raised $6.5 million (AUSD) last year, and U.S.-based Farmwise, which raised $14.5 million in 2019 as well.

For now though, Small Robot Company’s pitch to big crowds for tiny agriculture seems to be attracting big dollars.


Related

Small Robot Company Gets £200,000 VC Investment, Surpasses Equity Crowdfunding Goal

Small Robot Company, which makes precision agricultural robots, confirmed today via email that 7percent Ventures has invested £200,000 pounds (~$259,000 USD) in the company and is now Small Robot's lead investor. Small Robot is running its equity crowdfunding on CrowdCube, and has raised £2,003,880 ($2,596,000 USD) from 1670 investors so…

Small Robot Company Crowdfunds £4M for its Ag Robots

British agriculture robot company, Small Robot Company, announced today that it has raised £4 million (~$5.5M USD) through its equity crowdfunding campaign on Crowdcube. This brings the total amount for funding raised by Small Robot to £11 million (~$15.12M USD). Small Robot Company uses a combination of robotics and artificial…

Small Robot Co. Raises Another £2M Through Equity Crowdfunding

Agtech startup Small Robot Company announced today that it has launched an equity crowdfunding campaign and already hit its goal of raising £2 million (~$2.77M USD). This is the fourth time Small Robot has turned to equity crowdfunding, where it has previously raised £4.3 million. This brings the total amount…

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Tagged:
  • agtech
  • equity crowdfunding
  • robots
  • Small Robot Company
  • weed robots

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