South African Startup, Aerobotics Expands Funding Internationally

Aerobotics, a South African startup has received funding from FMO, the Dutch development bank, and Cathay AfricInvest Innovation which finances the growth and scale-up of innovative companies.

The startup uses artificial intelligence and drones to help farmers improve their yields and monitor their agricultural production.

In addition, they use an app called Aeroview which assists farmers with scout mapping and provides them with tools and insights to enable them to palliate damages caused by pests and diseases.

The investment is part of a ZAR250m Series-B round led by Naspers Foundry with participation from the FMO Ventures Program and the Cathay AfricInvest Innovation Fund.

Marieke Roestenberg, FMO Ventures Program Manager, said, “I am 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.”

The investment will ensure that the startup gains access to a large, international network of agribusinesses in emerging markets along with support from FMO’s knowledge partners such as the Wageningen University Research.

The funding will boost the startup’s international expansion efforts as well as its technological development

Founded in 2014 by James Paterson and Benji Meltzer, Aerobotics also raised funds from Naspers in May 2019