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News > OD Updates > James Paterson (2007S): Mixing artificial intelligence with agriculture

James Paterson (2007S): Mixing artificial intelligence with agriculture

Aerobotics, the leader in the application of artificial intelligence in agriculture, has just been awarded an R100 million investment from Naspers through its funding initiative, reports News24.

17 Jun 2020
OD Updates
James Paterson (2007S) (left) is the co-founder and CEO of Aerobotics
James Paterson (2007S) (left) is the co-founder and CEO of Aerobotics
Aerobotics, the leader in the application of artificial intelligence in agriculture, has just been awarded an R100 million investment from Naspers through its funding initiative, reports News24.

“The intersection of agriculture and technology has always been my passion and 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,” says James Paterson, co-founder of Aerobotics.

Aerobotics is a subscription-based artificial intelligence (AI) company that provides intelligent tools for the agricultural industry to manage its crops. The technology identifies missing trees, their current size and health status, which increase efficiency for the farmers.

Paterson continues, “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 commercial-scale farmers and, more recently, crop insurance companies in the US who require accurate tree-level information about their clients. 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 South Africa of Naspers, 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. This young, all South African team, has produced a world-class technology solution in South Africa and has also successfully entered the US market where they are gaining momentum. This type of tech innovation addresses societal challenges and is exactly the type of early-stage company that
Naspers Foundry looks to back."

The investment is pending approval by local authorities.

Naspers Foundry, which was announced at the end of 2018, is an R1,4 billion 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 R30 million in online home cleaning services business, SweepSouth. Naspers Foundry backs talented local technology founders building businesses that improve people’s daily lives and show great potential to scale.

Source: News24


 
 

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