Malaysia-Based Poladrone Raises $4.29M Seed Round To Protect Crops
10/26/21, 3:11 AM
Location
kuala lumpurMoney raised
$4.29 million
Round Type
seed
Rhinoceros beetles are one of the greatest threats to oil palm crops, attacking plants while they are young and potentially lowering a farm’s yield for years. They also affect workers’ health, since pesticides need to be sprayed frequently. Based in Kuala Lumpur, Poladrone wants to change the way farms use pesticides with a combination of drones and automation and analytics software.
Company Info
Location
kuala lumpur, kuala lumpur, malaysia
Additional Info
The company announced today it has raised a $4.29 million seed round led by Wavemaker Partners, which it says is the largest seed round ever raised in Malaysia, based on data from Crunchbase. Adoption of Poladrone’s drones also increased during labor shortages caused by the pandemic, and the startup grew its team from 20 people to over 80 in less than a year to meet demand. In 2020, the company launched Oryctes, developed with support from Malaysia Digital Economy Corporation, for precision spot spraying of rhinoceros beetles and other pests. The company is also planning to expand its reach to other types of crops, like rice, corn and sugarcane. Founded in 2016 by Cheong Jin Xi, Poladrone now operates in Malaysia and Thailand and plans to expand into Indonesia, the world’s largest oil palm producer. Cheong told TechCrunch that Poladrone is profitable, but decided to seek funding after the COVID-19 pandemic hit and “highlighted the positive impact our technology has on agriculture communities by creating jobs and upskilling opportunities.”Indonesian agritech platform TaniHub Group harvests a $65.5M Series B round