Aerobotics Increases Funding to $16.5m, Readies for International Expansion
Aerobotics, a South African aerial imaging startup based in Capet Town, has reportedly increased its funding round to $16.5 million. This is in accordance with the company’s plan to expand across the global market.
The funding rounds were led by Naspers Foundry in 2019, and then recently by FMO, Cathay AfricInvest Innovation, and others.
Commenting on the latest funding round, Aerobotics’ Chief Executive Officer, James Paterson, said the company “is happy to partner with FMO Ventures and Cathay AfricInvest Innovation to better serve our customers. Our strong relationship, coupled with this latest financial investment, will ensure that we continue to grow agriculture sustainably together. We are a proudly South African business and are proving that Africa can not only compete in technology innovation, but lead at the highest level.”
A statement that was shared by Aerobotics earlier this week also quoted the FMO Ventures Programme Manager, Marieke Roestenberg, to have said the following:
“I am extremely excited to onboard Aerobotics as a new investment of the FMO Ventures Program alongside our long-standing partners at Cathay Africinvest Innovation Fund. It is truly inspiring to see Aerobotics, an Africa-born, -grown and -based, tech company develop one of the most promising AgriTech solutions for farmers active in orchard management globally. At FMO we are keen to promote its technology among our large network of agribusiness clients in emerging markets with the potential to create a ‘win/win’ scenario for Aerobotics and agribusiness companies alike. The importance of its solutions has been further highlighted in the wake of the COVID-19 pandemic, with agriculture considered globally as critical infrastructure. We look forward to being a valuable partner to the Aerobotics team.”
As we grow we're excited to introduce new partners to help us even better serve our customers. Welcome to @FMO_development and @AfricInvest_Grp. https://t.co/Zc7vp2NfkA pic.twitter.com/bBpwod5HIz
— Aerobotics (@aerobotics_intl) December 12, 2020
Aerobotics, which was established in 2014, uses its cloud-based application (Aeroview) to provide farmers with insights, mapping, and other tools that help them to mitigate damage to tree crops whilst controlling pest and diseases.
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