Agxio, an Aberystwyth-based AI platform, has raised £2.1m in equity to support it growth plans.
The agritech company closed a pre-series A funding round as it looks to scale the business and expand internationally.
The fund will be used to further grow the team, enter new AI, agritech and life sciences markets, and continue developing the platform.
Agxio, which has sites in both Aberystwyth and Cambridge, is the Welsh Government’s strategic partner for Agritech Innovation, with the Development Bank of Wales an investor in the firm.
CEO and co-founder, Dr Stephen Christie said: “We are very excited about the next phase of growth for the company. Our Artificial Intelligence and Machine Learning technologies have a broad range of use cases, and we believe that the growth opportunities for us are very significant.”
He added: “We have also created a number of strong partnerships across industry, government, and academia to ensure innovation at the highest level."
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Agxio developed a low-code platform that automates the role of the data scientist and machine learning engineer to deploy AI solutions in the agricultural, life sciences and biotech industries.
The platform is an accelerator to build drone analytics, robotics, image analysis and biotechnology. The technologies are used in arable and livestock farms, closed environment agriculture, parasitology, NHS community care and pathology.