South African agri-tech startup, Aerobotics has expanded its Series A funding round to US$4 million after raising an additional US$2 million from Paper Plane Ventures to assist its expansion efforts.
Founded in Cape Town in 2014, Aerobotics uses aerial imagery from drones and satellites and blends them with machine learning algorithms to provide early problem detection services to tree and wine farmers and optimise crop performance.
The startup’s cloud-based application Aeroview provides farmers with insights, scout mapping and other tools to mitigate damage to tree and vine crops from pest and disease.
Aerobotics, which launched a batch of new products late last year, secured US$2 million as part of its Series A round last July and has now doubled that after raising funding from Paper Plane Ventures.
The latest capital injection – announced at the launch of its new offices in the Waterkant area of Cape Town – takes the startup’s total raised funding to US$4.6 million after its first round in 2017, and will assist with its international expansion efforts.
“We are proud to have made the announcement about expanding our Series A funding round to US$4 million at the launch of our new offices in Waterkant,” said Aerobotics co-founder and chief executive officer (CEO) James Paterson. “We are grateful that Paper Plane Ventures has put their faith and capital in our company, which we will use to expand our growth in South Africa, the United States and around the world, and increase our ability to help farmers and partners in the agriculture industry.”
