Irriot AB
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Irriot AB - overview
Established
2017
Location
-, Stockholm County, Sweden
Primary Industry
Agribusiness
About
Irriot AB develops innovative wireless irrigation automation solutions, leveraging advanced radio technology and a cloud-based platform to enhance agricultural water management and efficiency. Founded in 2017 in Sweden, Irriot AB provides wireless irrigation solutions aimed at optimizing agricultural practices. The company was established by Alexander Palin, Johan Wendt, and Mikhail Soloviev. Irriot AB raised SEK 5.
5 million in a funding round led by LRF Ventures on February 3, 2022, marking an important step in its growth trajectory. The total amount raised by the company stands at SEK 5. 5 million, with two notable investment deals recorded. Irriot specializes in wireless irrigation automation solutions that integrate advanced radio technology, a range of sensors, and a cloud-based platform to optimize agricultural irrigation.
The core product is a wireless irrigation controller that enables the independent operation of multiple remote terminal units (RTUs) and sensors, allowing for precise control over water valves without cables. This system operates on solar power, facilitating maintenance-free functionality. The IRRIOT app empowers users to monitor and control their irrigation systems remotely, providing real-time alerts for issues such as soil moisture levels. Irriot's products are primarily targeted at farmers and agricultural businesses, deployed across North America, Europe, and the Middle East, enhancing water efficiency and crop yields.
Irriot generated revenue of SEK 125,841 in 2022, with an EBITDA of SEK -194,045. The company earns income through sales of its irrigation automation systems, which include direct sales of wireless irrigation controllers, RTUs, and sensors, alongside subscription services for cloud access. Following the SEK 5. 5 million funding raised on February 3, 2022, Irriot plans to utilize these resources to scale up sales of its automated irrigation technology.
The company's strategy includes the introduction of new products aimed at enhancing the efficiency of agricultural operations, as well as targeting expansion into additional markets and regions.
Current Investors
LRF Ventures
Primary Industry
Agribusiness
Sub Industries
Analytics & Performance Software, Farm Equipment, Crop Production
Website
www.irriot.com
Verticals
IoT (Internet of Things)
Company Stage
Angel & Seed
Total Amount Raised
Subscriber access only
Irriot AB - timeline of key events
Irriot AB - financials
| Fiscal Year Ended | Aug 31, 2018 | Aug 31, 2019 | Aug 31, 2020 | Aug 31, 2021 | Aug 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | 302,165 | 902,103 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | 198.5% | - | - | - |
| EBITDA (USD) | (20,128) | (1,297,485) | (2,423,432) | (1,162,320) | - | - | - |
| Operating Income (USD) | (23,932) | (1,314,507) | (2,480,792) | (1,219,679) | - | - | - |
| Operating Margin | - | - | (821.0%) | (135.2%) | - | - | - |
| % EBITDA Margin | - | - | (802.0%) | (128.8%) | - | - | - |
| NET Income (USD) | (23,932) | (1,318,432) | (2,495,601) | (1,236,781) | - | - | - |
| % Net Margin | - | - | (825.9%) | (137.1%) | - | - | - |
Irriot AB - employee data
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