TIBOT Technologies, France, announced a $3.3 million financing round from investors such as Demeter Partners, France; Seventure Partners, France; Breizh Up, France; and Credit Agricole Ille-et-Vilaine Expansion, France, to help accelerate its international development.
TIBOT Technologies designs robots to increase the technical and economic performance of poultry operations and improve working conditions for breeders.
"We couldn’t be happier with this support," says Yanne Courcox, co-founder and president of TIBOT Technologies. "Demeter – through the Agrinnovation fund – and Seventure provide us with financial resources, but more importantly, with strategic experience in the AgTech sector and an international network. This funding will help us accelerate our business development, but it will also allow us to continue to generate value for our current customers. We will enhance our offer with more features –ever more innovative ones – while we stay in touch with the needs expressed in the field."
"TIBOT Technologies' robots provide an innovative response to the new challenges of poultry farming. The sector is growing rapidly, and it is undergoing a profound transformation. Of course, production must rise to deal with global population growth, but it is important to produce better, so as to meet consumer expectations and the need to take animal welfare into account. And, all this must be done in a context of scarce agricultural manpower. We are proud to support the company whose management has a clear vision of the development of the sector and has thus developed products that offer very pragmatical responses to the needs of poultry farmers," says Riadh Shaiek, partner at Demeter, and Isabelle de Cremoux, chairperson of the board at Seventure Partners.
TIBOT Technologies’ two main objectives for the financing entail accelerating growth through the sustainability of its international development, and enhancing robotics-related features.