The first stage of financing opens opportunities for global expansion for the Ukrainian AgTech startup providing robotics services in agriculture.
DroneUA partner business reaches a new level. Domestic innovative enterprise for agribusiness optimization and development of unmanned technologies in agriculture, FarmFleet, announced the successful completion of the first round of financing. FarmFleet raised $550,000 in initial investment. USA, at an estimated cost of 3.7 million dollars. USA, and is preparing for global expansion.
Investments will be used primarily for the start-up's exit outside of Ukraine and the implementation of the model of providing robotic services in agriculture on the international market. The company reports that the United States of America will be the first international pilot market. The founders assume that the creation of the American cluster will be aimed at evolving the practice of farming not only in Ukraine, where the company's head office is located, but also on a global scale. In the future, this will contribute to a deeper penetration of innovation, efficiency and safety in the agricultural sector.
In the national market, the investment will be used to expand FarmFleet's functionality in accordance with the needs of Ukrainian agricultural producers and generally strengthen the country's agricultural sector. The IT company sees itself as a mission to ensure the timely execution of agricultural technological operations with the use of agrodrones, despite numerous challenges, including adverse weather and limited resources against the background of an ongoing regional conflict.
FarmFleet is an innovative online service and ERP system that combines the traditional and new requirements of farming with 2023 technology solutions that are equally applicable to farmers, small and medium enterprises (SMEs) and multinational corporations (MNEs). .
"Our mission is to create a transparent and intelligent outsourcing market in agriculture, thereby expanding the opportunities for farmers to perform their operations efficiently and with exceptional quality," said Fevzi Ametov, one of the founders of the project. - "Fearless" investments in our potential open up significant opportunities for our growth in Ukrainian industry, as well as for the broader growth of Ukrainian high-tech industry in the competitive global market."
Today, FarmFleet, as the only platform of its kind in agribusiness, is the end result of a strategic collaboration between cross-industry leaders in the Ukrainian market, each of whom has deep expertise in areas such as robotics, unmanned technologies, agrochemicals and AgTech.
“Our project embodies the essence of collaboration, as we strive to achieve continuous progress in the development of pesticide products that meet the principles of environmental, social and corporate responsibility (ESG) and other innovations at the intersection of agrochemistry and service delivery. We firmly believe that progress in service-oriented agribusiness should be intertwined with the introduction of breakthrough innovative technologies," added FarmFleet co-founder Volodymyr Haplik. - "By combining expertise from various industries, we plan to effectively implement new approaches to the use of pesticides, ultimately reducing and minimizing their quantity, conserving water resources and promoting environmentally sustainable conditions for the agricultural industry to thrive."
FarmFleet's concept and approaches contribute to a sustainable future for the agricultural sector as a whole. Through the use of unmanned sprayers and other agricultural robotics, the platform significantly reduces the consumption of plant protection products, while reducing fuel use, water consumption and reducing CO2 emissions.
The timing of the initial funding and the huge potential for adaptability of the agribusiness service model, including FarmFleet's expansion beyond Ukraine, are undoubtedly important.
The latest studies show that the GDP of Ukraine in 2022 has decreased by about a third compared to 2021; and the harvest of grain and oil crops decreased by approximately 40%.
"The mission of our Ukrainian team is to emphasize the importance of the experience of our country and the knowledge of Ukrainian farmers in the implementation and dissemination of advanced technologies and innovative methods of agriculture. Even in these difficult times, Ukrainian farmers were at the forefront of global trends, emphasizing the importance of robotics in agriculture," added Valery Yakovenko, co-founder of FarmFleet and DroneUA, an international integrator of innovative solutions and robotics. – “In addition to the investment impact on the agricultural sector of Ukraine, FarmFleet's entry into the US market is an important milestone in the company's global expansion strategy. FarmFleet aims to use Ukrainian innovations and experience to improve global food security."
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About FarmFleet
FarmFleet is an innovative agribusiness optimization company and the latest drone technologies, as well as a service provider based in Ukraine.
FarmFleet optimizes business processes in the field of maintenance of drone sprayers and agricultural services; the platform connects farmers and service companies with external contractors, streamlining operations and increasing efficiency, while emphasizing sustainability and care for the environment.
With a vision of increasing global food security for all, FarmFleet uses Ukrainian experience and advanced technologies to shape the future of agriculture.
Learn more here - https://farmfleet.io/en
DroneUA is an international system integrator of unmanned solutions.
On the market of Ukraine and Eastern Europe, the DroneUA group of companies is the largest importer and distributor of leading drone manufacturers in the world and represents technological solutions from the brands XAG, EcoFlow, Pix4D, Parrot, Chasing, DroneDeploy, AgroCares and others.
The group of companies has its own engineering, production and service divisions, as well as an open data processing center. Technological solutions presented by DroneUA are used on more than 4 million hectares of cultivated areas of Ukraine. According to the results of the 2021 agricultural season alone, more than 1 million hectares were treated with drone sprayers from DroneUA.
DroneUA is among the top three most innovative businesses in the agricultural sector of Ukraine according to FORBES and among the twenty most innovative enterprises of Ukraine.
The group of companies continues to expand the list of technological brands that it presents on the Ukrainian market, and is active in agriculture, the oil and gas industry, as well as in the fields of energy, geodesy and topography.
