SA aerial-data analytics startup Aerobotics has received a whopping $17-million in an oversubscribed Series B round led by tech giant, Naspers with participation from Platform Investment Partners, FMO: Entrepreneurial Development Bank, and Cathay AfricInvest Innovation.
Aerobotics has secured $17-million in funding.
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According to the tech startup, the funding will be used to develop the existing technology and product delivery in the United States and other countries where Aerobiotics has created a strong client base.
In a press statement, James Paterson, CEO at Aerobotics expresses his gratitude for the investment funding secured.
“Thank you to our customers for believing in our vision and to our investors for backing us. We’re committed to providing intelligent tools to optimize automation, minimize inputs and maximize production. We look forward to further co-developing our products with the agricultural industry leaders.”
Founded in 2014 in Cape Town, Aerobotics provides intelligent tools to farmers to facilitate food security through the use of a range of software products.
The startup was founded by Benji Meltzer and James Paterson and has been labelled a a leader in the application of artificial intelligence (AI) in agriculture.
By using artificial intelligence (AI) and web-based tools via the use of an innovative app, Aerobotics is able to locate areas of a farmer’s vineyard or crops that are underperforming and find the source of the underperformance. This is also done with the use of drones that are deployed to gather insightful data for farmers.
The South African tech startup has scaled rapidly since its inception and has established a footprint in the United States, increasing its overall revenue.
Featured image: Benji Meltzer and James Paterson, founders of Aerobotics (Supplied)