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21 Mar 2018

Russia-Belarus Venture Investment Fund to finance UAV development project

MINSK, 21 March (BelTA) – The Russian-Belarusian Venture Investment Fund is set to finance a project to develop unmanned aerial vehicles (UAVs), BelTA learned from the State Science and Technology Committee.

“The fund will invest around $430,000 in AgroDroneGroup, an R&D company developing UAVs for agricultural needs. The money will be used to scale up the project and produce UAVs in Belarus for the neighboring states and establishing a design bureau,” the committee noted.

AgroDroneGroup’s highly reliable agricultural drones provide high-accuracy data thanks to an improved design. The company is expected to set up an aggregation platform for providers and users of agricultural data. This platform will be used by drone pilots to offer their services to agricultural manufacturers and by customers to get the data they need in a convenient format.

“AgroDroneGroup’s technology has been tested and approved by the Pryanishnikov All-Russia R&D Institute of Agrochemistry, agrochemical stations, and the Russian Fruit and Vegetable Union. The company has already started selling services to agricultural manufacturers and is ready to launch serial production,” the Science and Technology Committee added.

AgroDroneGroup is developing a system to monitor areas of cropland and plant health using specially equipped drones. The technology helps agricultural companies increase yields, cut plant protection costs, minimize the negative health effect of agrochemicals, and reduce expenses.

In December 2016, the Russian Venture Company (RVC), RVC Infrafund, and the Belarusian Innovation Fund established a joint Russian-Belarusian Venture Investment Fund. The fund is RUB1.4 billion and may be increased by the decision of investors. The fund's managers are RVC Infrafund and the Belarusian Innovation Fund. The Russian-Belarusian Venture Investment Fund invests in startups based on innovative technologies developed either in Belarus or in Russia.

 

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