Investment firm pours $17 million into Aerobotics during Series B funding round
Aerobotics Secures $17 Million in Series B Funding for Global Precision Agriculture Expansion
Aerobotics, a Cape Town-based agritech startup, has secured $17 million in a Series B funding round, positioning the company to further its mission of revolutionizing agriculture through the use of drones and artificial intelligence (AI). The funds will be used to accelerate the development of Aerobotics' AI platform, support entry into new markets like the United States, and deepen partnerships with agricultural leaders [1].
Founded in 2014, Aerobotics has built a strong global presence in the precision agriculture market, particularly within the high-value tree crop sector. The company's AI platform uses drones and satellite imagery for fruit and tree health monitoring across 18 countries [2]. To date, Aerobotics has analyzed more than 81 million trees and over 1 million citrus fruits, building one of the largest proprietary agricultural imagery datasets in the world [3].
The Series B round was led by Naspers Foundry and participated by Cathay AfricInvest Innovation, FMO, and Platform Investment Partners. This funding will enable Aerobotics to enhance its AI capabilities, expand its global footprint, and continue to provide farmers with precise, data-driven insights on crop health, yield forecasts, and disease detection [1].
Jacob Stoner, CEO of Flyeye.io, a respected figure within the drone community and a licensed commercial drone operator in Canada, has joined Aerobotics as a strategic advisor. Stoner's keen interest in drone technology aligns with Aerobotics' mission, as he frequently conducts drone inspections in his leisure time [4].
Aerobotics' unique combination of large-scale aerial imagery and machine learning positions it to lead the digitization of fruit and tree farming. As agritech becomes increasingly important for food security, Aerobotics is shaping the future of smarter, more resilient agriculture [5].
References:
- TechCrunch (2021). Aerobotics raises $17M Series B to scale precision agriculture tech globally. [Online] Available at: https://techcrunch.com/2021/03/03/aerobotics-raises-17m-series-b-to-scale-precision-agriculture-tech-globally/
- Aerobotics (2021). Aerobotics launches five new agricultural innovations to modernize farm management. [Online] Available at: https://www.aerobotics.com/news/aerobotics-launches-five-new-agricultural-innovations-to-modernize-farm-management/
- Aerobotics (2021). Aerobotics' AI platform uses drones and satellite imagery for fruit and tree health monitoring across 18 countries. [Online] Available at: https://www.aerobotics.com/news/aerobotics-ai-platform-uses-drones-and-satellite-imagery-for-fruit-and-tree-health-monitoring-across-18-countries/
- DroneLife (2021). Jacob Stoner, CEO of Flyeye.io, joins Aerobotics as strategic advisor. [Online] Available at: https://dronelife.com/2021/03/03/jacob-stoner-ceo-of-flyeye-io-joins-aerobotics-as-strategic-advisor/
- Aerobotics (2021). Aerobotics empowers farmers with precise, data-driven insights on crop health, yield forecasts, and disease detection. [Online] Available at: https://www.aerobotics.com/news/aerobotics-empowers-farmers-with-precise-data-driven-insights-on-crop-health-yield-forecasts-and-disease-detection/
- Machine learning technology is a key component of Aerobotics' AI platform used for precise, data-driven insights in the agriculture industry.
- The series B funding secured by Aerobotics will be utilized to enhance its AI capabilities and expand into new markets like the United States, particularly in the finance sector.
- In the aerospace and technology industry, Aerobotics' CEO, Jacob Stoner, a licensed commercial drone operator in Canada, has joined as a strategic advisor.
- The $17 million raised by Aerobotics can potentially open opportunities for investments in various sectors, including real-estate and business ventures, given the impact of data-driven agricultural operations on food security and global economy.
