Drone Ag raised just over £300,000 in its recent crowdfunding campaign, overachieving on its £250,000 target.
A total of 314 investors put money into the firm and raised £300,140 in total.
From the outset, the funds raised were set to be put towards raising investment to develop its new app platform, Skippy Scout.
The autonomous crop scouting app is designed to help farmers save time and costs, increase yields and efficiency on farm, and use less chemicals.
Skippy Scout will autonomously fly a drone around a given field and collect very high resolution crop-level photos at pre-determined points.
The drones can cover up to two hectares per minute of flight, making the crop scouting exercise up to 10 times faster than a person on foot.
Jack Wrangham, Drone Ag co-founder and director, commented: “Our ambition is to bring easy to use, economical technology to farmers, to help them make better decisions, increase yield and profitability, while reducing inputs and costs. We’re excited about bringing Skippy Scout to market and demonstrating the benefits of improved efficiency in agriculture.”
He added: ““We have been delighted by the response to our crowdfunding campaign so far, which allows everyone to invest and share in our success. It’s important to us that we encourage investment from the very communities that will benefit the most from Skippy Scout, as well as reach all those interested in improving global agriculture and food production, through technology.”
Despite the focus being on the Skippy Scout app, the company’s founders did offer investors a stake in the entire company.
16.67% equity was available.