Saga Robotics is a Norwegian agriculture tech company founded in 2016. It built a Thorvald autonomous farm where they focus on doing an advanced type of farming with the help of modern gadgets and robots, and they mainly grow soft fruits here, like strawberries and grapevines. Recently, Saga Robotics raises $11.2 million for its Thorvald farm business in the UK and the US.
The funding is very important for Saga Robotics to raise itself from a small-scale business to a large commercial one. People are not much aware of this Thorvald autonomous farm because it’s not reached where it should be, but with this investment, the company will get a chance to promote something magical that they have built.
Thorvald is already working with a few acres, and these investments will help the company expand quickly. Both Saga Robotics funding got done 2 times; the first was in June, and the second was in July, and both times it was from the old and new investors.
Saga Robotics Funding: Backed by New and Existing Investors
The last round of Saga Robotics funding was led by Praesidium Agri FoodTech, which is a Luxembourg-based venture. There are some already existing investors, such as Melesio, Blystad, Sanden, Aker, Nysno Climate Investments, Hatteland, and the MP Pensjon.
The raise happened in two stages. The first was Tranche 1, which happened in June, and they raised $7.8 million from it, and mostly already existing investors helped here, and the second one was Tranche 2, which happened in July and raised $3.4 million, and here mostly new investors contributed. Saga Robotics raises $11.2 million for their UK and US business with these two rounds.
Dorn Wenninger said that their strong business results were enough to give the new investors and existing investors confidence in investing in them. The Sagga have solid growth potential, and it can be proved with the help of the trusts they hold from many people, because they have always proved themselves and always give back more than their investment. The board of Saga Robotics got stronger; current members Dorn Wenninger and Yvonne Silden Langlo are continuing, and Alice Laurora, with Laila Danielson, chose to join them.
Thorvald autonomous farm has grown from a prototype to a full farm, and it is the one that can give a lot of inspiration to others about the right use of technology and what the future responsibilities are. This growth in the robotic frame helped it grow rapidly and build the trust of investors. The farm also has a strawberry farming robot. There are not many things that are used for farming here; the main elements are soft fruits.
Scaling Thorvald autonomous farm in the UK and US Crop Markets
Saga Robotics raises $11.2 million, and with this new funding, the company is planning to expand their Thorvald autonomous farm in two main markets:-
- United States: Saga Robotics will focus on building a vineyard farm here, and for that, they have already used it on 1,300+ acres of vineyards. Saga is planning to triple this number by the end of 2026. This is a big aim; they are planning to work in the US. The robot is also a part of the California CORE Program, which helped in giving grants to farmers for their move to adopt new technology and for being okay with that.
- United Kingdom: Sega is focusing on strawberry farming here. Thorvald autonomous farm here already works with major strawberry growers, which helped them to cover more than 20% of the UK market. With the help of a strawberry farming robot, they are planning to reach a goal of over 30% market share by 2026.
Saga Robotics also just started earning a good amount of revenue from its new yield prediction tool, which helps farmers in forecasting crop yields accurately so they can take further action according to that. Sago Robotics funding can also be used here to improve the tool accuracy.
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Saga Robotics Future Vision
The founder of Saga Pal, John, who is in California to boost their US growth plan, said that they make people see how their Thorvald autonomous farm works, and now we are planning to scale it. This planning will help them speed up their adoption and will help cut the reliance on chemical-based farming methods. Saga Robotics raises $11.2 million in just two months, and people are trusting it more now. They have already achieved success in their UK plan, and now progress has been made in the US one. They are planning to leave a strong impact on the robotic agriculture idea for the long term.
