SA Artificial Intelligence agriculture startup, Aerobotics has raised approximately $2 million in series A funding from the South African bank, Nedbank Group, US Ag-Tech Venture Capital Fund AgFunder, US-based AngelList and South African-based 4Di Capital.
Aerobotics uses machine learning and artificial intelligence to process satellite and drone imagery and deliver insights to Farmers. Banks and Insurance companies are also finding the information useful when assessing a client’s risk.
Aerobotics CEO, James Paterson says, “From preventing the spread of pests and disease, to ensuring optimum irrigation and nutrition levels, the early detection of these problems can mean the difference between producing a profitable harvest, or not. We use aerial imagery and machine learning algorithms to do just this – provide insightful data on the performance of tree crops so that Farmers can take the necessary steps to rectify any issues before they actually become a problem.”
He adds that “with the insights gathered from our in-field scouting App, Aeroview, we could help offer Farmers insurance and financing options based on their crop status,” he adds.
Paterson says, “There is no doubt that the South African agriculture industry plays an important role in job creation and foreign exchange and that there is potential to increase the sector’s contribution to the gross domestic product. Pre-empting serious agricultural challenges for our Farmers is a massive step towards achieving this and is something our funders clearly recognise.”
Aerobotics will be using the funds to expand globally over the next 12 months with a US launch taking place in Florida in August.
