A London-based drone specialist that deploys UAVs in to assist with precision agriculture has closed its latest round of funding after securing £3m.
Hummingbird Technologies, one of the UK’s leading drone businesses operating within farming, now has total funding worth approximately £4m after gaining funding from The European Space Agency, Sir James Dyson, Newable Private Investing and Velcourt, the UK’s largest commercial farming operation.
The company was foundedin 2016 by Will Wells, with tech partners including Google UK and currently has 25 employees based in London and a further 50 part-time positions around the UK’s countryside.
According to business magazine, BQ Live, Wells said: “We are delighted to complete this funding milestone with such high-quality backers, which reflects our position as the leading player in AI based agritech. This is an exciting time with a major digital transformation in global agriculture.
“Artificial intelligence and digital technologies are dramatically enhancing traditional farming techniques with significant cost efficiencies for farmers and the added benefit of helping to cut back on the overuse of chemicals.
“With the rising demand for agricultural production to meet the needs of the world’s increasing population, we see a huge opportunity for further growth. This latest round of fundraising will enable us to continue our expansion across the UK and into key markets such as Russia, Brazil and Ukraine. As a fast-growing business, we will continue to raise further funds to support our ambitious plans.”