Fotenix Raises £2.1M in Funding for AI-Powered Crop Diagnostics
Fotenix, a company based in Salford, UK, specializing in AI-powered crop diagnostics, has successfully secured £2.1 million in funding.
The funding round was led by River Capital, with additional support from EHE Ventures’ AI Growth Fund, resulting in a total investment that unlocked a £1.6 million grant from Innovate UK.
The primary objective for the company’s utilization of these funds is to facilitate recruitment efforts, expand their operations within the UK, and further enhance the capabilities of their platform’s diagnostics engine.
Dr. Charles Veys, the CEO of Fotenix, founded the company with a mission to revolutionize crop monitoring through the integration of multi-spectral imaging, robotics, and AI technologies. The innovative approach allows Fotenix to generate 3D digital representations of crops, enabling growers to detect signs of stress and disease well before they become visible. By providing real-time insights into crop health, the platform empowers farmers to optimize yields, minimize losses, and reduce the need for pesticides.
Fotenix has already established partnerships with key industry players such as GrowUp, Agrii, and Bayer. The company’s projected annual recurring revenue for 2025 exceeds £500,000.
FinSMEs
18/04/2025
