Crover beats crowdfund target for robotic device
Going with the grain: the campaign exceeded the target
Crover, an Edinburgh startup behind a robotic monitoring device, has raised £337,000 in a pre-seed crowdfunding round which exceeded its target.
The company has developed the world’s first “subterranean drone” which is able to “swim” in granular bulks such as cereal grain.
The 30-day equity crowdfunding campaign, via the Crowdcube platform, closed on 30 July, attracting more than 570 investors and raising 225% of the initial target of £150,000.
The new funding will aid the company’s efforts in bringing its robotic grain storage monitoring system to the UK and European market and add commercial and technical jobs.
Among the planned projects are pilot tests in the UK and Italy as part of the agROBOfood Open Call 2 for Innovation Experiments, for which a Crover-led consortium has been awarded €495,000 in funding.
For this project, Crover is partnering with NeoruraleHub and ICR (Istituto Cooperativo di Ricerca), and the Agri-EPI Center, in the capacity of Digital Innovation Hub, to test its system in a variety of test sites and on a wide range of grain bulk types.
Dr Lorenzo Conti, Crover’s founder, said: “We are extremely grateful to the large number of investors who have decided to support our pioneering mission of enabling humanity to reach below the surface and we look forward to sharing in future successes with them.”