Temasek co-leads US$30 mln funding in EAVision agricultural drone startup

Agricultural drone startup EAVision Technologies has raised US$30 million in a Series C funding round led by Temasek, Chinese state-sponsored fund Citic and venture capital firm Bits x Bites. There are other investors as well; German chemical company BASF, US-based Continental Grain Company and Chinese fruit retailer Pagoda, among others.

The funds will be used for research and development and accelerating market expansion in China and overseas, EAVision spokespeople said. The company's unmanned aerial vehicle (UAV) tech is developed by a team of computer vision engineers. Its UAVs can be used to navigate challenging environments, such as farms in the mountainous regions of China.

Mountainous farming accounts for more than 34 per cent of China's cultivated land and is responsible for a vast variety of nut, fruit and tea production, EAVision said.

Businesstimes.com.sg quoted Joseph Zhou, managing partner of Bits x Bites as saying: "UAVs are uniquely suited for China as its geographical characteristics make fixed-wing aircrafts or similarly large land-based machinery popular in the West less relevant. This lends an opportunity for technological innovators like EAVision to cater solutions for these farmers to grow more with less, safely and cost effectively."


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