UK Space Tech Angels (UKSTA) syndicate completes investment into agritech innovator, Haybsee
14th August 2017
HayBSee, a London based agritech robotics company providing the worldsâ€™ first commercial, everyday, farm interacting robot, has closed an investment round which was cornerstoned by aÂ UK Tech Space Angels (UKSTA)Â syndicate including the London Co-Investment Fund (LCIF) and the LBA EIS/SEIS Hybrid Fund.
This equity funding complements HayBSee’s recent entry into the European Space Agency Business Incubation Centre, where they will receive support and further funding.
This agritech drone company spun out from Imperial College London, is designing an innovative way of targeting and killing weeds using a novel long duration non-wheeled weed killing platform.
This new round of funding will enable the company to grow its team, and evolve its technology into a modular platform incorporating a range of measuring and interacting devices. In parallel, the company aims to make the device completely autonomous.
Fred Miller, CEO at HayBSee, comments, “Since ending my studies I’ve been looking to make an impact in this world through creating products. I’ve been incredibly fortunate to have been joined by my team, ESA and the Satellite Applications Catapult, who have all shared in my vision. In particular I’m extremely excited to be working with LBA who have a number of partnerships including LCIF and the Space Tech Angels which have allowed all of this to unfold and given us a future on a new path to success!”
Dr Nick Appleyard, Head of Downstream Business Applications at the European Space Agency (ESA), says “ESA sees great potential for companies that use satellites to support devices at ground level. Satellite images, location signals and communication links are easier to use than ever before, creating situational awareness and direction for action on the ground. HayBSee is a great example, and ESA is proud to be able to support them alongside UK Space Tech Angels as they bring this idea to market.”
Puneet Raj Bhatia, Fund Manager at the LCIF, comments, “LCIF is delighted to support HayBSee in its endeavour to develop its drones for automated weed targeting. Stagnating productivity levels is a significant issue facing the UK economy, and this technology clearly has the potential to raise the productivity levels in what is currently a manually intensive activity”
Anthony Clarke, LBA Managing Director, comments, “whilst a number of companies are commercialising weed image recognition technologies, the challenge remains to action this data in an effective and scalable manner. HayBSee has the potential to provide this solution and I am particularly pleased that as part of the round, an experienced space tech investor has joined the company’s board of directors.