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Metomotion Closes $5 Million Investment Led By Ridder And Navus To Bring Robotic Automation To The Greenhouse Industry

Sep 29, 2021•about 4 years ago

Amount Raised

$5 Million

Description

MetoMotion, a developer of advanced, intelligent robotic systems to help growers operate farms of the future, announced that it has completed an investment round of $5 million led by Ridder, a leading greenhouse technology company, and Navus Ventures, the family investment office of Lely, investing in unique high-tech and sustainable start-ups and scale-ups that drive the transitions in food and energy. Sirius VC also participated in the round. The funds will be used for finalizing R&D activities, setting up production and marketing activities and launching the commercial product.

Company Information

Company

Meto Motion

About

MetoMotion has developed advanced, intelligent robotic systems to help growers operate the farms of the future. The company aims to transform indoor farming production in modern greenhouses through its smart robotics platform that enables farmers and growers to solve labor shortages, reduce costs and improve yields. MetoMotion was established in 2016 as a portfolio company of The Trendlines Group Ltd. (SGX: 42T) (OTCQX: TRNLY) with support from the Israel Innovation Authority and with investment from the Technion DRIVE Accelerator. MetoMotion received a €2 million grant from the European Commission in 2019.