Aerobotics, an aerial data-analytics specialist, yesterday announced that it had secured a R8-million seed-funding round from South African venture capital company 4Di Capital and the Savannah Fund in Kenya.
The company provides data analytics from drone aerial imagery for the agriculture and survey industries.
“We couldn’t have asked for better partners than 4Di and Savannah who between them have a wealth of entrepreneurial experience, and we look forward to building our existing operations in Africa, as well as expanding further into the global precision-farming space,” said Aerobotics co-founder James Paterson.
According to Paterson, the investment will be used to expand their sales and marketing capabilities.
Mbwana Alliy, Savannah Fund managing partner said they believe that drone technology will continue to be embraced.
“We’re looking to help Aerobotics scale across Sub-Saharan Africa, where drone use is still in its infancy. It will be particularly exciting to watch drone hardware costs fall to smartphone price levels, allowing even small-scale farmers to take advantage of their capabilities.” (via Ventureburn)
Reserve Bank Warns Of Risk Of Deeper Recession, Dangers Of Policy Uncertainty
South African Reserve Bank governor Lesetja Kganyago warned on Tuesday that the country’s economic recession could deepen unless there was policy certainty on mining and agriculture, the two sectors that contributed to growth in the first quarter.
“At the moment these two sectors are facing policy uncertainty, which means we can go into an even deeper recession unless certainty is restored.
“The sooner the policy is clear the better it will be for our socio-economic well-being,” Kganyago told Parliament’s standing committee on finance in a briefing on the role of the bank and the outlook for the economy.
He said a mining company could not be expected to make a 30 year investment if policy changed every time a new minister was appointed in the portfolio.
“Ditto is you are a farmer and you must worry about the long-term. The same if you are a factory owner.”
Kganyago noted that South Africa and Venezuela were the only large economies currently in recession in spite of an upswing in the world economy. It meant that South Africa’s woes could not merely be blamed on the global economic climate but pointed to problems that were specific to the country. (via African News Agency)
Conscious Cape Town Cola Brand Crowdfunds For Expansion
Cape Cola is running a crowdfunding campaign to raise enough money to expand its locally-sourced, ethically-produced cola soft drink business operations.
According to the company, the Thundafund crowdfunding campaign will allow them to buy much-needed syrup and bottles, develop a professional recycling system, redesign the bottle, create new flavours, improve logistics and extend the core team from leisure time to full-time.
The campaign has a range of rewards on offer, from merchandise to weekend hampers, in exchange for the money it is trying to raise. For more information, visit Cape Cola’s Thundafund page. (via Bizcommunity)
