Project detail - AEROBOTICS PROPRIETARY LIMITED

AEROBOTICS PROPRIETARY LIMITED

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Who is our client

Aerobotics (Pty) Ltd. (the Company) is an Agri Tech company active in the Farm Management Software, Sensing and IOT space. The Company has developed an orchard monitoring, yield estimation and insurance reporting product that supports precision agriculture in the high value tree crops segment e.g. citrus, berries and nuts. Key components of the solution are field management, pest and disease control, yield estimation and irrigation management.

Funding objective

An equity investment has been made that will support the Company’s operations, expansion and technology development.

Why we fund this project

The Company’s impact potential is multifold: i) supporting climate smart agriculture and reducing usage of water and inputs, ii) improving food security and yield per hectare, iii) advancement of emerging market farmers towards peers in developed countries, iv) supporting economic growth and job generation in South Africa, and v) great potential for FMO to add value through amongst others linkages with its corporate Agri portfolio and partner knowledge institutions.

Environmental and social rationale

This is a Category C project because of the potential limited adverse social and environmental (E&S) risk and/or impacts of this SAAS model. While this project has been screened against all IFC Performance Standards (PS), FMO’s E&S due diligence indicates that the investment will have impact which must be managed in a manner consistent with the following PSs: PS 1 - Assessment and Management of Environmental and Social Risks and Impacts, PS 2 - Labour and Working Conditions, and PS 3 - Resource Efficiency and Pollution Prevention. As the nature of this project does not involve direct land acquisition or direct use of natural resources but is instead facilitating farm operations with a software solution, the following Performance Standards do not apply: PS 4 - Community Health, Safety and Security, PS5 - Land Acquisition and Involuntary Settlement, PS 6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources, PS7 – Indigenous, and PS8 - Cultural Heritage. FMO will periodically review the project’s ongoing compliance with the Performance Standards.

Country
Global
Sector
Agribusiness, Food & Water
Signing date
12/9/2020
Total FMO financing
ZAR 42.75 MLN
Fund
Ventures Program Africa EurNb
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
C