International investors back Ukrainian drone maker to modernize agriculture

Earlier this month DroneUA, a Ukrainian integrator of unmanned technologies, attracted an undisclosed amount of funding from several individual investors from the UK, Poland and Moldova. The investment went through Agricultural Systems Studio, a Kiev-based agritech software integrator which represented the investor pool.

The funding will be used to create what the investors hope will become the largest provider of unmanned technology services for agriculture in the country.

Dubbed ‘DroneUA Agroservice,’ the new company is valued at $4.7 million at start. It intends to use advanced farm management systems applying to unmanned technologies, and process data acquired from Earth Remote Sensing (ERS).

Farms will be offered a range of services on a monthly subscription basis. By the end of 2018, the company expects to serve farms totaling up to one million hectares combined.

Over 30,000 drone flights are planned to be performed by the end of the year.

DroneUA Agroservice is planning to employ up to 200 people across 23 regional representative offices. Three of them are to be open in Odessa, Kropivnitskiy (formerly known as Kirovograd) and Sumy as early as this summer.

DroneUA Agroservice expects to start entering foreign markets next year..

Source: DroneUA, AIN.UA



Topics: Agriculture technologies, Finance, International, News, Space & aviation, Startups, Venture/Private equity
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