Farmbot

Farmbot is an Australian startup that provides farmers with water management solutions using IoT. The company offers wired and wireless remote monitoring solutions to farmers, helping them assess water levels, consumption, and trends 24/7 in real-time. 

The company’s portfolio consists of a range of solutions including a Farmbot Monitor (remote monitoring device to measure the water that includes tracking people movements), a line pressure sensor (to assess pressure level lines, giving insights on the overall reticulation system), cameras (allows farmers to get clear visuals of dams, tanks, and other on-farm assets) and an alert system (to notify and alert farmers as necessary). The company states that its monitoring devices can be used even in remote areas with low accessibility and can also be integrated with a range of other agritech platforms. 

Farmbot charges farmers an upfront cost for the hardware and an annual subscription fee for real-time updates. The satellite subscription cost is USD 1.20 per day and the cellular subscription cost is around USD 1 per day. The company claims that a business deploying Farmbot monitors can save on average USD 2,466 per year for every unit deployed. 

As of October 2021, the company has installed 5,500 water monitors across 1,500 properties in Australia and states that it is signing up 300 new customers every month. Farmbot is also trialing the technology in the US targeting farmers in Texas, California, and Arizona. 

In July 2020, FarmBot expanded its services to Australia by entering into an agreement with Inmarsat, a British satellite telecommunications company offering global mobile services. The partnership aims to deliver a water monitoring software-as-a-service solution for Australian farmers. Inmarsat provides satellite connectivity services to FarmBot, helping Australian farmers in remote locations overcome frequent network connectivity challenges.

In December 2022 , Farmbot was to close a USD 5 million Series A+ fundraising round, led by Telstra, with an investment of USD 2 million. The company plans to use the funds to further its operations in the US and Australia. In June 2024, The company has raised USD 4.6 million in a bridge funding round led by existing shareholders Tesla and Macdoch Ventures and new investors hailing from the US ranching sector to expand operations to the US market, and the company expects to expand its services, including tools for broader farm infrastructure and natural capital assets like soil, pasture, and biodiversity.