Fieldwork Robotics, a portfolio company of Frontier IP Group, has raised £1.5 million in an equity funding round led by Elbow Beach Capital. The funding round, which raised over £2 million, values Fieldwork at £6.7 million post-money. Frontier IP also invested £172,000 through the conversion of loans and trade debt, giving them a 22% equity interest in the company. Fieldwork is also expected to raise up to £600,000 through a Seedrs funding round. The funds will be used to grow the team, outsource robot manufacture, and attract more farmers to its harvesting-as-a-service offering.
Fieldwork Robotics has developed the world's first raspberry-harvesting robots, which are currently being used by the Summer Berry Company in Portugal. The company aims to increase the harvesting speed of its robots and have over 100 robots available to farmers by 2025. The funding will help Fieldwork expand its operational footprint and enhance its technology.
David Fulton has been appointed as the CEO of Fieldwork Robotics. Fulton has over 30 years of business experience and was previously the co-founder and director of LAB+BONE, a service that uses DNA to protect dogs' identity. He was also the CEO of WeSee, a company using advanced computer vision technology, and has held executive positions with Expedia, Adform, and Microsoft.
Elbow Beach Capital's investment in Fieldwork Robotics is part of their focus on decarbonization, sustainability, and social impact. The investment aims to address the labor shortage and efficiency issues faced by farms in the UK and internationally. Fieldwork's AI-supported harvesting robots have the potential to increase farm efficiency, reduce food wastage, and tackle labor shortages in the agricultural industry.