RBF Ventures, which was established by RVC, Infrafund RVC and Belarusian InnovativeFoundation, has invested 25M roubles in AgroDroneGroup, a company that develops agricultural drones.
Investments will be used to finance the capital costs of the project and the costs aimed at its development and scaling. In Belarus, a design office will be organized and production of UAVs for the nearby countries markets will be launched.
AgroDronGroup is developing a system for monitoring the state of sown areas and plant health using drones with special equipment. The collected measurements and snapshots are transferred to the platform developed by the company, which provides users with visual structured information and recommendations for conducting agricultural work. The technology allows agricultural enterprises to increase crop yields, minimize costs in the treatment of plants with means of protection, reduce the harmful effects of agrochemistry on human health, and reduce costs.
The feature of the development in the high accuracy of the data provided and the increased reliability of the agrodrons due to the improved design. In addition, the business model “AgroDronGroup” is not limited to the sale of UAVs. The company plans to create a platform-aggregator for suppliers and consumers of the agricultural data, drones will be able to sell their services to agricultural producers, and customers will receive the information they need in a convenient format.
The AgroDronGroup technology has been tested and confirmed by the Pryanishnikov Research Institute for Agricultural Chemistry, Agrochemistry stations, Fruit and Vegetable Union. The company already carries out the first sales of services for agricultural producers and is ready to launch mass production.
“The deal with AgroDronGroup was the first investment of the RBF Ventures. We expect that in the long run such projects will be able to take a significant share not only in the local market, but also in the international market” – Deputy general director and RVC investment director Alexey Basov.
“We highly appreciate the well-coordinated work of two management teams – Belinfond and Infrafund RVC – on the organization of the foundation. The experience of Russian colleagues in establishing a venture ecosystem and structuring transactions is very useful for our country right now in the area of recent initiatives to support the high-tech industry. We get the necessary knowledge and competencies to promote an effective modern financial instrument to support Belarusian start-ups and innovative developments” – Director of the Belinfond Dmitry Kalinin.
“AgroDronGroup” is an example of a combination of innovative technologies and a very promising commercial component. Drones will be able to analyze the degree of maturity of the cultivated crop, the condition of the soil, the level of nitrogen content, to control the yield. For agriculture, it is an important contribution to further successful development. The signing that took place today is an objective confirmation of the effectiveness of the fund’s work” – Anton Vasilyev, Chief Investment Officer of Infra-Fund RVC.