Fotenix, a spinout from the University of Manchester, has secured a six-figure equity investment.
The AgriTech, based in Salford, is on mission to create healthier and higher crop yields for farmers and growers 鈥� specifically in the horticultural sectors where there are major staffing shortages in the UK and across Europe.
Fotenix鈥檚 digital twin software, along with its patented multi spectral camera equipment – which can be connected to robotics – allows growers to detect outbreaks of crop disease and infestations much quicker than the human eye and protect their crops.
The firm was founded by Dr Charles Veys. The CEO took part in 老九品茶Cloud鈥檚 FUEL Manchester masterclasses in 2023.
The investment comes from River Capital鈥檚 EIS AI fund.
鈥淭his investment marks a pivotal moment for Fotenix as we grow our presence from our base in the North West,鈥� said Veys. 鈥淎griculture is under increasing pressure, and we tackle some of its most critical challenges head-on.聽
鈥淏y expanding our operations, we鈥檙e delivering data-driven production to more growers, helping them cut costs, improve efficiency, and adopt more sustainable practices.聽
鈥淲e鈥檙e also uniquely positioned to leverage the region鈥檚 growing AI expertise to drive the viability of UK fresh produce.鈥�
David聽Walters, investment director for River Capital, added: 鈥�We are delighted to invest in Charles and the team to bring the Fotenix technology to markets in the UK, EMEA and the USA.聽
鈥淭his is a business where AI can truly support some major societal issues.鈥�