Smart pest system start-up, Spotta announced on 28th July, 2020, that it has raised €1 million seed investment in a funding round from Cambridge Angels and REMUS, US based Venture Capital Firm. The representatives of the VC firm will join the board as a part of deal.
Other participants in the round include Angel CoFund, Martlet Capital and Wren Capital. The recent investment by the big players depicts the Spotta’s huge potential to resolve the €320 billion problems of insect pests while dramatically reducing pesticide use.
Robert Fryers, CEO at Spotta, said, “For decades, pest management has been held back by laborious, error-prone manual monitoring. With our technology it is finally possible to change this and help industries around the world to make a step change from reactive to proactive management of pests. This will save billions and massively reduce the amount of pesticide used globally. We’re delighted to have strong support from a wide group of investors who share our vision. This funding will allow us to scale up our commercial operations and continue to address the £320bn global problem of insect pests.”
The company will utilize the new investments to enter into international markets, hire top talent and launch two more new products. Spotta’s presence can be seen in the UK, the US and Europe. It aims to continue its innovative use of AI and Internet of Things (IoT) to offer an accessible technological solution for pest detection and grow rapidly in order to support its expansion plans.
About the company
Spotta was established in the year 2018. However it first commercialized its first product in the year 2019. Its revolutionary technology ‘Bed Pods’ (as mentioned by the company itself) automatically identify and quantify pest infestations, even at very low populations. The tool can be installed in each room. The solution is useful for the multi-room accommodation offering institutions like hotels, hospitality industry, hospitals and other establishments to pre-empt and minimize the damage bugs that can cause to guests, maintaining reputation and earnings.
Additionally, Spotta is also working with the forest management organization in order to develop an outdoor pest monitoring solution. The company wants to enable its technology for other applications including insect monitoring to help boost yields in agriculture.
US-based Fast Company magazine recognized the start-up as one of the AI and World Changing Ideas for 2020. The company has also been nominated as a finalist in the Innovation Showcase 2020 by the UK Cleaning Services and Support Association (CSSA), among other things.
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