Pioneer and world leader in agricultural robotics, Naïo Technologies has just closed a 33 million US dollar (€32m) fundraising. Led by Mirova, the affiliate of Natixis Investment Managers dedicated to sustainable investment, 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.
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 US subsidiary company in Salinas, California, to focus on key agricultural hubs in North America.
This momentum accelerated the deployment of new robots worldwide, reaching 300 robots in operation by 2022. This year, Naïo launched two new products (Orio & Jo), addressing key customer needs. Naïo Technologies is the first manufacturer to provide a range of four robots.
The company employs 70 people and trades in 20 different countries through a dealer network. Thanks to this new fundraising of €32m, Naïo Technologies will accelerate its international expansion and more than double its fleet in operation over the next two years. The investors acknowledge these results and the growth strategy as the company doubled its revenues in just one year.
Sales increase and an extended range of robots
The order book is filled both with new and existing customers ordering new units to widen their fleets. The company is enjoying strong market traction in Europe and North America. Aymeric Barthes, Naïo Technologies’ CEO says: “This fundraising will allow us to take a new step towards more product and organisational efficiency, thanks to our industrial partners like Syselec”.
“Agricultural robotics is on the rise! We are glad to be supported by impact funds and Region Occitanie for the next steps”, stresses Gaëtan Séverac, Naïo Technologies’ co-founder. “Agricultural robotics answers challenges related to both sustainable agriculture and labour shortages. More and more farmers are leaning toward robots to get help”.
Committed to a sustainable food production and a better world
The goal of Naïo Technologies is to share its field expertise on environmental transition and regenerative agriculture challenges with farmers. Naïo builds efficient and autonomous robots and helps reduce the carbon footprint of farming activities, through its electric and lighter-weight machinery range that limits the use of pesticides in food crops. Naïo Technologies is validating the B-Corp certification and has completed a carbon footprint and product life cycle analysis of its full range of electric robots.
Vanessa Carvalho, Investment Manager in the Impact Private Equity team at Mirova, said: “The goal of Mirova’s environmental impact private equity strategy is to accelerate the scaling of innovative environmental solutions with positive impact. Today, we are thrilled to invest in Naïo’s proven technology and to help the company grow and develop sustainable agriculture through robotic innovation.”
“Naïo Technologies, a pioneer in agricultural robotics in France, has, in only a few years, become an international benchmark. From the early stages, Région Occitanie supported the company’s growth and R&D activity. Sustainable solutions developed by Naïo Technologies help farmers and winegrowers work and create jobs in our area. Through ARIS and M Capital, Région Occitanie is part of this new fundraising which will help address sustainable farming challenges affecting people and environmental needs”, stated Carole Delga, Région Occitanie’s president.
Fabrice Castes, Groupe Syselec CEO, said “As a local supplier manufacturing to Naïo Technologies robots, we truly value our close relationship which began in 2016. We are proud to contribute to the increasing number of units being delivered both within Europe and overseas. This shows that industry and technology can offer solutions to face many challenges of food production. Our team is prepared and ready to manufacture hundreds of robots per year!”
For more information, visit www.naio-technologies.com