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
-
China-Africa trade in 2026: cooperation, but not on equal terms
18:03
-
West Africa Pushes Telecom Integration With Free Roaming Rollout
17:12
-
Senegal Tests Digital Government Reform in Mbour Pilot Project
17:06
-
Benin, Portugal Sign Multiple Agreements During Paulo Rangel Visit
16:43
-
National AI Program Positions Algeria for Digital Growth
16:43
-
Cameroon Lines Up CFA18.4 bln Investment Pipeline at Latin America Forum
16:38
-
Togo inaugurates second farm mechanization center, plans wider rollout
16:30
-
Riches Attai Builds Agritech Platform to Streamline Food Supply Chains in Africa
15:20
-
Togo Inaugurates New University Campus Infrastructure in Kara
15:18
-
CEMAC Drafts Unified Mining Code to Tighten Governance and Attract Investment
15:05
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Mobile phones have become essential tools for work, education, payments and staying connected across...
By Idriss Linge, Editorial Director The prevailing narrative can be summed up in one sentence: pressured by Donald Trump’s tariff policy and...
Senegal, Togo and Benin have launched free roaming between their mobile networks. Users can now receive calls at no extra cost while traveling...
Senegal has launched a pilot phase of its public administration digitalization project (PRODAP) in Mbour. Germany finances the €29 million...
Benin and Portugal signed several bilateral agreements during Portuguese Foreign Minister Paulo Rangel’s visit to Cotonou. The deals cover visa...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...