Aerobotics doubles funding round through Paper Plane Ventures deal

jamespatersonaerobotics

Aerobotics has confirmed the expansion of its Series A round of funding from $2m (£1.5m) to $4m (£3m).

The expansion came through a signed deal with Paper Plane Ventures that will bring the total Aerobotics funding to $4.6m (£3.4).

The announcement was made as part of Aerobotics’ new office launch event in front of clients, partners, investors and members of the media.

Story continues below
Advertisement

Co-founder and CEO, James Paterson commented: “We are proud to have made the announcement about expanding our Series A funding round to $4 million at the launch of our new offices in Waterkant.”

He added: “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 of helping farmers and partners in the agriculture industry.”

Aerobotics also confirmed the launch of a new tool for farm yield management which is currently in development within the Aeroview app.

As part of the event, Aerobotics went on to announce that two members of its executive team are moving to California to grow the company’s business development around the United States and will  launch Los Angeles-based offices in the second quarter of 2019.

Tags : AeroboticsFundingInvestment
Alex Douglas

The author Alex Douglas

Leave a Response