Small Robot Company (SRC), a company that provides per-plant farming via its Tom, Dick, and Harry robots, has announced that a leading venture capitalist investor has pulled out of the company's planned funding round, citing agriculture as being too risky. SRC has warned that it could enter administration at the end of the month without new financial support.

According to the company, securing GBP 1.5 million (USD 1.9 million) is a viable option to stabilize the situation and keep the business operational long enough to finalize investment, grant funding, or acquisition opportunities. 

Consequently, the company has launched a crowdfunding #SaveSmall pledge campaign. As of May 9, 2023, SRC had received nearly GBP 1.03 million (~USD 1.3 million) in investment pledges.

The company also noted that raising GBP 3 million (USD 3.8 million) would enable the launch of the first franchises and result in additional proof points with new capabilities in a second season. Securing GBP 4 million (USD 5.06 million) overall would allow it to launch eight franchises and achieve all revenue projections, potentially leading to a Series B funding round or an initial public offering.