INTELLIGENT BRANDS // Software for Business
Naspers Foundry invests US $ 5.6 million in agritech business Aerobotics
Aerobotics , a provider of AI applications for the agriculture sector is using its technology to help farmers with the intelligence they need to manage their farms .
South Africa-based multinational
Internet group Naspers has announced a US $ 5.6 million investment in agritech business Aerobotics , through its early stage business funding initiative Naspers Foundry . The investment is pending approval by local authorities .
Aerobotics is a subscription-based Artificial Intelligence ( AI ) company that provides intelligent tools for the agricultural industry to manage its crops .
Founded in 2014 , Aerobotics is a provider of AI applications in the agriculture sector . The company delivers AI insights through its proprietary Aeroview platform and Aeroview InField mobile app .
According to Aerobotics , the insights it provides its clients include tree counts , the identification of missing trees , size and health of trees .
The company has progressed its technology to engineer fruit counts and to provide data on fruit size and colour . In addition , farmers use the intelligence to manage their farms , trees and fruit more efficiently .
James Paterson , Co-Founder and CEO , Aerobotics , said : “ The intersection of agriculture and technology has always been my passion . It has been incredible to work with a talented team and leading agricultural groups to contribute towards the future of agriculture . We are proud to be building quality technology in South Africa and delivering it to customers around the world .”
“ Our journey is only just beginning , but already Aerobotics has demonstrated success in our ability to collect and analyse tree and fruit-level information , which are critical to the agricultural industry . We have seen great support from commercialscale farmers and , more recently , crop insurance companies in the US who require accurate tree-level information about their clients ,” he said . “ We are excited to have Naspers as a partner , bringing proven skills in building global technology companies together with the capital required to continue building for and with the agricultural industry .”
Phuthi Mahanyele-Dabengwa , CEO , Naspers South Africa , said : “ Food security is of paramount importance in South Africa and the Aerobotics platform provides a positive contribution towards helping to sustain it . This importance has been highlighted further in the wake of the COVID-19 pandemic , with agriculture considered globally as critical infrastructure .”
Mahanyele-Dabengwa said this young , all South African team , has produced a worldclass technology solution in South Africa and has also successfully entered the US market where the company is gaining momentum .
“ This type of technology innovation addresses societal challenges and is exactly the type of early stage company that Naspers Foundry looks to back ,” she said .
Naspers Foundry , which was launched at the end of 2018 , is a US $ 79.6 million initiative aimed at strengthening the South African technology sector by providing funding to talented and ambitious technology founders and entrepreneurs .
Last year , the initiative invested US $ 1.7 million in online home cleaning services business , SweepSouth . Naspers Foundry backs talented local technology initiators building businesses that improve people ’ s daily lives and show great potential to scale . •
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