Saga Robotics Secures $11.2 Million Funding to Enhance its Armada of UV-C Light-Emitting Bots for Mold Elimination
In the rapidly evolving world of agricultural technology, Saga Robotics, a leading specialist in ag robotics, is making significant strides. The Norwegian company, which currently operates across more than 1,300 acres in US vineyards and holds approximately 20% market share in the UK tabletop strawberry sector, has ambitious plans for the future.
Saga Robotics aims to triple its footprint in US vineyards and increase its penetration of the UK tabletop strawberry market to 30% by next year. This growth strategy involves scaling the deployment of Thorvald autonomous robots, which use UV-C light to combat powdery mildew, a major fungal disease in both strawberries and grapevines.
The Thorvald platform, equipped with cameras for data collection, is designed to predict yields and detect disease. In the UK, yield prediction on the Thorvald platform involves data collection on clusters, size of clusters, size of berries, and disease outbreak recognition. This data-driven approach is expected to provide value-added services and deepen grower engagement.
Saga Robotics operates a Robots as a Service (RaaS) model, whereby growers pay a fee per acre to treat their crops. This model, coupled with the efficiency and sustainability benefits of UV-C treatment, makes Thorvald an attractive option for growers.
In California, some wine growers have already bought the 'bots outright, thanks to Thorvald qualifying for California’s CORE incentive program. This program offers substantial grants for robot sales, facilitating Saga Robotics' US market entry and expansion.
The company's latest funding round, which raised $11.2 million, was backed by Praesidium Agri-FoodTech, Aker Capital, Nysnø Climate Investments, Blystad, Hatteland, Melesio, Sanden, and MP Pensjon. This funding will accelerate commercial adoption and expand the robot fleet.
Saga Robotics was founded in 2016 by Dr. Pål Johan From and Dr. Lars Grimstad. To date, the company has raised just under $33 million. With the CEO and founder, Dr. From, now relocated to California to spearhead US expansion, Saga Robotics is poised for further growth.
While there is competition in the UV-C treatment market, Saga Robotics has no direct competitors in the strawberry tabletop market in the UK. New players in the UV-C space for crop treatments are expected to take 3-4 years of trials before they can scale.
In the meantime, Saga Robotics' Thorvald platform now supports 13 leading strawberry growers in the UK and 1,300+ acres of vineyards in California. As the company continues to expand, it is expected to lead sustainability efforts by reducing chemical use and improving agricultural efficiency.
In the UK strawberry market, there is a slight willingness to pay for sustainability. This, coupled with the efficiency and effectiveness of UV-C treatment, positions Saga Robotics well for success in the coming years. As the number of autonomous robots in California is expected to increase significantly, Saga Robotics is set to play a key role in this transformation.
- An entrepreneurial venture in finance, Saga Robotics is pursuing a career path in the global arena of agricultural technology.
- With a focus on small-business growth, Saga Robotics plans to expand its footprint in US food-and-drink production, specifically in vineyards, and increase its market share in the UK's tabletop strawberry sector.
- Technology plays a crucial role in Saga Robotics' business, with the Thorvald robots employing data and cloud computing to combat diseases like powdery mildew, predict yields, and collect data.
- In the realm of investing, Saga Robotics operates a business model where growers pay a fee for the use of its robots under a Robots as a Service (RaaS) approach.
- Basketball enthusiasts might be surprised to learn that Saga Robotics' founders, Dr. Pål Johan From and Dr. Lars Grimstad, have made successful transition from basketball (possibly their past careers in sports like NBA or NCAA basketball) to steering this company in the field of agricultural technology.
- In the real-estate sector, Saga Robotics' success has attracted investments from Praesidium Agri-FoodTech, Aker Capital, Nysnø Climate Investments, Blystad, Hatteland, Melesio, Sanden, and MP Pensjon, which will aid in the expansion of the robot fleet.
- Entrepreneurship in technology, particularly in agricultural technology, is playing a significant role in lifestyle changes, including promoting sustainability and improving efficiency in food-and-drink production.
- As opportunities arise in global-cuisines, one can expect to see more autonomous robots, like those from Saga Robotics, being deployed in various food-and-drink businesses, contributing to a greener and more efficient future.
