Naïo Technologies raises 14 million euros

Friday January 17 2020 by Vitisphere

Created in 2011 by Gaëtan Séverac and Aymeric Barthes, two robotics engineers, the Toulouse-based start-up designs and markets electric agricultural robots capable of mechanically weeding crops (vegetables and vines) autonomously.Created in 2011 by Gaëtan Séverac and Aymeric Barthes, two robotics engineers, the Toulouse-based start-up designs and markets electric agricultural robots capable of mechanically weeding crops (vegetables and vines) autonomously. - Photo credit : Naïo Technologies

Investor confidence has been key to the success of this new €14 million fund raising”, claimed Aymeric Barthes, CEO and co-founder in 2011 of Naïo Technologies. That’s certainly an understatement! The number of agricultural start-ups as successful as Naïo Technologies after a round of financing are few and far between. To pull it off, the manufacturer of the vineyard robot Ted has drawn on the expertise of the public investment bank BPIFrance. Pymwymic, a Dutch investment company, has joined long-standing shareholders Demeter and Capagro, a French agricultural investment fund.

We’ve struck gold!

With its three robots, Oz, Dino and Ted, the company announces that it has already sold more than 150 machines to market gardeners and winegrowers, mainly in Western Europe, but also in North America and Japan. The new round of fund raising will enable Naïo to continue to industrialise and internationalise its processes, particularly in the United States. The start-up has specified that it will open its first storage and assembly workshop there in 2020. It also plans to consolidate its workforce, creating 10 to 20 jobs per year for three years.

Turnover in excess of €2 million

The company, which has 70 employees, had already raised €2.5 million in 2018, €2 million in 2017 and €3 million in 2015. The smallest of its robots, Oz, is its best-seller. With a price tag of around €20,000, more than 100 units were sold by mid-2019. The start-up's turnover was €2.1 million in 2018, compared with €1.5 million in 2017.

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