Photo - IRRIOT
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IRRIOT

IRRIOT is Europes pioneer in wireless precision irrigation.

Sweden
Market: Auto Maintenance, Internet and IT, Farming, Telecommunications, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 10.03.2021
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Idea

IRRIOT is the European pioneer in wireless precision irrigation. It implements the next generation of commercial irrigation solutions. Using the latest telecommunication technology (LoRa), IoT, high precision sensors and cloud technology we deliver a platform that secures optimal soil conditions, by intelligently dimensioning the water supply to the intended zone. Using IRRIOT's wireless precision irrigation system the farmer will reduce the water usage with 50%, increase the crop yield with 30%, optimise human resources, reduce carbon footprint, and reduce eutrophication and soil erosion.

Current Status

Our business model today is to develop, produce and sell wireless irrigation equipment and provide Software as a Service (SaaS) in the form of monthly subscription. However we are looking further into developing Irrigation as a Service, IRaaS, where the customers will subscribe to our complete solution (soft- and hardware). Our sales strategy was to start sales in Sweden, followed by Scandinavia and Europe and then expand target markets to the rest of the world. Since the start in late 2017 we had our first pilot installation in the summer of 2018, followed by 40 installations spread over 8 countries by the year 2020. We are expecting to have more than 1000 installations in 2024 globally.

Market

Our sales strategy was to start sales in Sweden, followed by Scandinavia and Europe and then expand target markets to the rest of the world.

Our customers consists of the following sectors:
Horticulture and agriculture
Nurseries
Parks and botanical gardens
Cemeteries
Sport arenas
Timber industry

In Europe alone we have identified 2.1 million potential customers.

The market for smart irrigation automation is estimated to reach 6.7 billion USD by 2025.

Problem or Opportunity

To decrease the water usage for horticulture, while increasing the crop yield with wireless precision irrigation automation.

Using IRRIOT's wireless precision irrigation system the farmer will reduce the water usage with 50%, increase the crop yield with 30%, optimise human resources, reduce carbon footprint, and reduce eutrophication and soil erosion.

Solution (product or service)

Using the latest telecommunication technology (LoRa), IoT, high precision sensors and cloud technology we deliver a platform that secures optimal soil conditions, by intelligently dimensioning the water supply to the intended zone.

All the data collected in the cloud storage will allow farmers to review their logs and analyse data to optimise water consumption and forecast their yield every season in regards to climate change and growing population.

A unique selling point we want to highlight is the capability to automate the irrigation based on sensors - completely wireless. On top of that we have developed a frost protection irrigation system that today is integrated into our system and soon commercially available. The very same system could be used for the cooling off plants, which is common in warmer areas. Our solution has also a very competitive price, compared with other mostly wire-based solutions available on the market today, which will lower the entry barrier for farmers who couldn’t afford it before, resulting in greater savings of planets’ resources.

Competitors

The majority of our competitors are old school wire based solutions that are very costly and fragile.

Advantages or differentiators

There are 2-3 other startups globally trying to achieve wireless irrigation automation. A huge differentiator between us and the others is that they are trying to utilize LoRa-WAN for radio communication. Our technology is also based on LoRa, but works peer-to-peer and doesn’t require LoRa gateway installation or LoRa network coverage and qualified personnel. It works without any internet connection at all if needed. All irrigation logic is stored locally in the irrigation controller, making us resistant to e.g. internet downtime, which is crucial in the rural areas especially in the emerging markets. Our solution is also future-proof, thanks to our Over-The-Air upgrades and rapid software development.

Finance

Our products are priced to the following:

Base station €1500
RTU 2 valves €350
RTU 4 valves €450

Then we have a monthly subscription fee for the software.

We are currently working on the pricing for subscription of the whole package.

During the next 5 years we expect to sell for €8.500.000

Business model

Our business model today is to develop, produce and sell wireless irrigation equipment and provide Software as a Service (SaaS) in the form of monthly subscription. However we are looking further into developing Irrigation as a Service, IRaaS, where the customers will subscribe to our complete solution (soft- and hardware).

Money will be spent on

Continuing scaling up, CE-marking and hiring more sales people.

Offer for investor

Will be announced during the meeting.

Team or Management

Incubation/Acceleration programs accomplishment

EIT FAN

Won the competition and other awards

We were awarded with the Foodtech 500 where we are considered the 231st most promising agtech company in the world.

Invention/Patent

We are patent pending on radio protocol for bandwidth and energy saving. We have 3-4 more patents that we are aiming to apply for.

Photos

Photo 1 - IRRIOT is Europes pioneer in wireless precision irrigation.
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video