Cape Town-founded agritech start-up Aerobotics has raised US$17-million (R253-million) in a series-B funding round led by Naspers.
News of the investment comes less than a year after Naspers said it would invest R100-million in Aerobotics through its Naspers Foundry business, which funds early-stage ventures.
The company’s series-B round was oversubscribed. Other than Naspers, there was also “significant participation” from Platform Investment Partners, FMO: Entrepreneurial Development Bank and Cathay AfricInvest Innovation.
The series-B investment will used to further technology development and product delivery in the US, a key market, and Aerobotics’ other core territories, it said.
Aerobotics, which was founded by James Paterson (who serves as its CEO) and Benji Meltzer in 2014, uses its technology to provide its farming clients with tree counts, the identification of missing trees, and the size and health of trees.
Paterson said in the statement announcing the series-B round: “We’re committed to providing intelligent tools to optimise automation, minimise inputs and maximise production. We look forward to further co-developing our products with the agricultural industry leaders.” — (c) 2021 NewsCentral Media