South African Aerobotics raises international expansion fund
Monday, 14 December 2020 19:04
Aerobotics, a South African startup that uses artificial intelligence and drones to help farmers improve their yields and monitor their agricultural production, has secured an undisclosed investment from the Dutch FMO and the Cathay AfricInvest Innovation Fund, which finances the growth and scale-up of innovative companies.
The financing will stimulate Aerobotics' international expansion and technological development. This Agritech startup will also continue operations in its key markets in South Africa, Australia, and the United States.
The investment will provide Aerobotics with access to an extensive international network of agribusinesses in emerging markets. It is part of a 250 million rand ($16.6 million) round led by Naspers Foundry, the investment arm of South Africa's Naspers Group, with the participation of the FMO Ventures program and the Cathay AfricInvest Innovation Fund.
Founded in 2014 by James Paterson and Benji Meltzer, Aerobotics also raised funds from Naspers in H1 2020.
Chamberline MOKO
Live News
-
Glencore Chases Bigger Copper Output in Congo — but Sells Down Assets
19:17
-
Cameroon Turns to BEAC’s Special Window to Back Grand-Zambi Iron Project
18:34
-
Norway’s Scatec Signs 21 MW Solar Lease for Botswana Copper Mine
18:14
-
Sweden’s Eco Wave Power Completes Study for 8.3 MW Plant in South Africa
18:01
-
Yaoundé to Host the 2026 Cocoa & Coffee Festival From March 26 to 28
16:39
-
MTN Bids $2.2bn to Regain Control of IHS Towers, Including in Cameroon
16:32
-
Cameroon: IMF Sees Gradual Growth Recovery Driven by Mining and Energy Reform
14:56
-
Cameroon Engages Three Foreign Firms to Expand Water Network and Lift CAMWATER Revenue by 60%
14:54
-
Dakar Positions Itself as Gaming Hub Through Efest Africa Initiative
14:08
-
Hol Mayissa Seeks to Democratize Cross-Border Payments Through KeeCash
13:59
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
Agreement with Gécamines could extend KCC mine life into the 2040s Copper output target raised toward about 300,000 tons a year Move comes as Glencore...
Five local banks to mobilize CFA41.2bn ($74.4m) for Grand-Zambi mine Funding to be refinanced through BEAC’s “Window B” for productive...
21 MW solar plant to supply about 30% of Motheo mine’s power needs Seven-year lease-to-own model avoids upfront capital spending Project reflects...
Feasibility study identifies 8.3 MW technical potential at Ngqura Project still pending regulatory approvals and investment decision Could become...
“Dao” ranks among the three films in official competition at the 76th Berlinale and marks Alain Gomis’ second bid for the Golden Bear. The film...
Fort Jesus is a fortress located in Mombasa, on Kenya’s coastline, at the entrance to the natural harbor that long made the city a hub of trade in the...