The data analytics company based in Cape Town, Aerobotics, has successfully raised US$17 million in what it describes as an overly subscribed Series B round led by Naspers, a global investment firm.
Aerobotics, the intelligent tools provider for optimal perennial crop farming practices has quickly scaled its mission of offering its cherished customers with tools rightly needed in feeding the world.
The company’s data is largely used for the certainty it provides to farming and food security, as the global agricultural industry extends to meet food demand and expected population growth.
Aerobotics in the last few years has seen record growth and in the United States of America (USA) specifically, their revenue has experienced grown in excess of an order of magnitude. This latest round of investment is further going into technology development and product delivery in the United States and Aerobotics’ other business locations.
According to James Paterson, CEO of Aerobotics, in a press statement said,
“Thank you to our customers for believing in our vision and to our investors for backing us.
Further commenting on the news, James noted, they were committed to improving Aerobotic’s technology to providing intelligent tools for optimize automation, minimize inputs as well as maximize production.
He concludes that they were looking forward to further co-developing their existing products with the agricultural industry leaders.
How does Aerobotics work?
A user simply creates a free account on their web based platform called, Aeroview. This allows you to order a drone flight. Aerobotics then arranges a drone pilot to fly three (3) times throughout the stated period to track the health and sizes of plants, using a multi-spectral high resolution drone imagery.
The data fetched allows the farmer identify those needing critical attention and inspects them in the field using their Aeroview InField app.
With this, farmers begin making data-driven decisions on their farms, thanks to the use of this AI-based analytics platform.
Curacel: Insurtech Startup Secures $450K Pre-seed Funding Led by Atlantica Ventures & Consonance
The insurtech startup, Curacel, an AI-powered platform for claims processing and fraud management in Africa, reports that it has raised $450,000 pre-seed funding in a round that was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
The insurtech startup already works with some of the biggest insurers on the continent, including AXA Mansard, Liberty Health and Old Mutual, as well as more than 800 hospitals in Nigeria, Ghana, and Uganda. It plans to expand into 10 new African countries by the end of 2021.
Every year, African insurers lose more than $12 billion to fraudulent, wasteful, and abusive claims. Curacel’s flagship CLAIMS platform acts as a bridge between primary care hospitals and Africa’s insurance companies, using advanced artificial intelligence to ensure that insurance companies only pay claims for the correct treatment, appropriate medications and recommended patient therapies.
Curacel is also scheduled to launch Curacel Capital, a cash advance product that makes it easier for healthcare providers to access working capital to mitigate financial challenges. Delayed payments and other inefficiencies in the payment process means many African healthcare providers often have to make the difficult choice between keeping the books balanced or providing healthcare at a loss. With Curacel Capital, healthcare providers can access lump sums of up to three times their average monthly billings, based on claims processed on the Curacel portal, ensuring that they can continue to deliver essential services without undue disruption.
With insurance penetration at just 2.8% across the continent, many Africans are one accident or health emergency away from poverty. And in Africa’s communal societies, tragedy impacts entire communities, with people emptying their savings to pay for medical expenses, burials or other disaster relief for family members and kin. By leveraging Curacel’s products and services, insurers across the continent are better equipped to close the insurance gap and safeguard prosperity.
According to Curacel Co-founder and CEO, Henry Mascot, in a press statement said,
“We are excited to have these investors on board and we are looking forward to partnering with them to drive our vision of improving insurance inclusion across Africa.”
At Curacel he shares, they are uniquely positioned to safeguard livelihoods and increase the quality of life through their unique, market-leading products and services.
IK Kanu, Partner at Atlantica Ventures noted that,
“The African insurance market represents a significant growth opportunity and we are delighted to be partnering with Curacel to drive growth in this sector. There is an opportunity to create an entirely new market of products and services here and we look forward to supporting the team to improve health outcomes across the continent.”
Finally, Mobolaji Adeoye, the Managing Partner at Consonance adds that they believe the Curacel team has what it takes to be market leaders and are therefore excited to support them. Also stressing that they have a great product and equally delighted to be coming onboard at this early stage of their growth.
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