January 30, 2024

Norwegian tech company raises $11.5M to bolster US vineyard presence

Norwegian technology company Saga Robotics has raised $11.5 million in growth capital to help position the company for growth in America and the UK.

Saga Robotics produces artificial intelligence-powered robots, named Thorvald, that are replacing traditional tractors and manual labor, according to a news release.

The capital was raised through an equity transaction, according to the release. A new shareholder is Songa Investments, part of Blystad Group and MP Pensjon.

Existing shareholders Nysnø Climate Investment, Aker, Rabo Ventures, Hatteland, Melesio Capital and Sanden continue to support the company, while founder Pål Johan remains a main shareholder.

Saga Robotics produces artificial intelligence-powered robots, named Thorvald, that are replacing traditional tractors and manual labor, according to a news release. Photo courtesy of Saga Robotics.

Saga’s autonomous robots help reduce plant diseases and promote sustainable food production with lower CO2 emissions and a 60% to 90% reduction in pesticides, according to the company.

The new capital will help grow Saga’s presence in American vineyards and continue its expansion in British strawberry farms, according to the release, as well as bolster the development of new tools and data services.

“Robots are now capable of covering large areas and performing precision tasks that surpass conventional farming methods,” Anne Dingstad, Saga Robotics CEO, said in the release. “Thorvald is leading the way in this transformation. This year, nearly one in 10 strawberries in the UK will be treated by Thorvald — and this is just the beginning of our global journey.”

Thorvald is already being used by large American wineries, according to the release. A new generation of the robot, Thorvald 3, will facilitate scaling in production and operation.

The robot employs high-intensity UV-C light, which helps combat the fungus powdery mildew without the need for pesticides, according to the company. Thorvald is also equipped with cameras to collect images and information for crop prediction.

Data collection is already underway in the UK, where Thorvald performs tasks such as cutting runners and spreading predatory mites.

Songa Investments expressed confidence in Saga Robotics’ technology.

“We clearly see the value Saga Robotics is already creating for its customers in the UK and the U.S.,” Jacob Ziesler, Blystad Group investment director, said. “The flexible, self-driving platform developed by Saga Robotics offers significant opportunities to continue supporting agriculture with efficiency, reducing the need for spraying and making a substantial contribution to greenhouse gas reduction.”





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