Fulcrum Global Capital and Omnivore also participated, bringing Niqo's total funding to $21 million. This includes previous rounds of $5 million in Series A and $2 million in Seed funding. The company plans to utilize these funds to expand into new markets and further promote the global adoption of its spot spray technology, which utilizes AI-driven agricultural robots to reduce costs and boost profitability for farmers. Niqo's AI camera and deep learning models enable precise plant identification and targeted spraying, resulting in a significant reduction in chemical usage, up to 90%.

Despite recording a modest revenue of Rs 1.3 crore in FY23 and facing losses of Rs 9.8 crore, Niqo claims to have commercialized over 90,000 acres of land and served 1,800 farmers in the fiscal year 2023-24. Key investors in Niqo include Omnivore Partners, Brida Innovation, and Blume Ventures. The company operates in the competitive agritech robotics sector, facing rivals like Zenrobotics, SwarmFarm, and Ecorobotis. For deeper insights, check out TheKredible.