A ROBOTIC system that could replace the hand-picking of crops has won the interest of potential investors.
The idea – proposed at a time when crops are going unharvested because of labour shortages – was pitched at a Dragon’s Den-style event held by Dorset Business Angels.
The unnamed company behind the invention, whose founder was originally from Dorset, told the event it could “protect humans from poor pay and working conditions, increase productivity and reduce labour risk”.
Its creators pointed to a critical labour shortage on farms globally. Some crops have been left unharvested to rot, while some farmers have reduced production and suffered financial losses.
A range of vehicles would use robotic arms and artificial intelligence, with a navigation system that the company says could be safely employed alongside human pickers.
The business says the system would drive a three-year payback in asparagus harvesting alone.
The Dorset Business Angels event, held quarterly at the Bournemouth Carlton Hotel, allows entrepreneurs to make a 10-minute case to potential investors.
The company behind the robotic picker were seeking £500,000 to enable it to become revenue-generating with in a year. It received six expressions of interest.
Another idea to attract the interest of the “angels” was a digital identity platform, replacing the cumbersome manual gathering and updating each year of corporate information for enterprise due diligence.
A paid pilot is going on with the law firm Webber Wentzel, investors were told.
The business was seeking £500,000 to make the platform “industry agnostic and ready to scale across Europe” and it attracted four expressions of interest.
Dorset Business Angels chairman Don McQueen said: “It was great to welcome a group of such experienced and high calibre investors. There was lots of interesting and insightful questioning, with investors drawing on their individual sector experience to probe further.
“We always encourage new guests to our pitch evenings. It’s worth coming along to find out what angel investing is all about. We promise that you won’t be expected to get your cheque book out on the night.”
The event also hard from Rob Jones, senior investor director from sponsor Investec Wealth and Investment, on the subject of responses to increased market volatility.
To book a slot at a pitch event, visit dorsetbusinessangels.co.uk/events
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