Small Robot Company in liquidation with farming investors at risk

The Small Robot Company has been put into liquidation after struggling to find enough investment to be able to scale up its operations.

A large number of farmers have invested in the business; however, it is unclear at this stage how much of their investment they are likely to get back.

Administrators have been appointed to sell the company’s assets and the Small Robot Company is working with them to find potential acquirers.

See also: Small Robot Company turns to crowdfunding after investor quits

A spokesperson for the business told Farmers Weekly that it really depends on how much the assets are valued at and sold for. They added that this has not yet been confirmed and they are still working through that process.

The agri-tech business hopes the technology they created will still be able to benefit the farming industry.

Concerns 

Financial concerns were first observed when a lead investor pulled out of the businesses in spring 2023, and the company then turned to crowdfunding to fill this void.

In the first week alone, the Small Robot Company neared its initial funding target of £1.5m, however more investment was still needed.

A company statement released on 1 February said: “Our technology delivered value at a profit, with customers waiting, but we could not secure the required investment to scale. We had a signed term sheet, but unfortunately the investment did not land before our runway ended.

“We have created something remarkable in the last six years. We co-designed our service with farmers, successfully delivering their ‘Holy Grail’, a world first: grass weed detection at field scale.

“This went commercially live in September, with huge potential. UK blackgrass alone loses farmers £400m each year. Service last season demonstrated up to 90% herbicide and 24% fertiliser savings.

“We believe we developed something that will be a cornerstone of how farms are run in the future, but unfortunately with this attempt we were too early for the market. Our chapter in the fourth agricultural revolution is over. We hope we have inspired others to continue the mission.”

The statement went on to thank those who had backed the businesses and offered support during the past few years.