Colorado-Based Leader In Farm Drones Demonstrates Global Potential, Economic Impact For Home State

BOULDER, Colo., May 18, 2015 /PRNewswire/ -- In a competitive selection process, Colorado's Advanced Industry Program awarded $250,000 to Agribotix. A pioneer in drone data collection and analysis, Agribotix offers a cloud-based software platform for processing data collected by agricultural drones to produce results a farmer can use to lower costs and improve yields. The reports range from an overhead view of a field used to spot problem areas, to a zone map for precise fertilizer application.

The grant was created by the Colorado Office of Economic Development and International Trade to identify and advance the most innovative, viable technologies, created or manufactured in Colorado, and exported globally. Agribotix will leverage the grant to accelerate customer acquisition and implementation of its information products, facilitating rapid scaling in response to the growing global agricultural drone market. With its focus on aerospace systems integration, clean technology and leadership in agriculture-specific drone technologies, Agribotix positions Colorado to capture a significant share of the global market for agricultural drones and services. It is estimated that the commercial drone market will exceed $1 billion annually by 2018.

"The grant will substantially hasten our plans to develop our market. Significantly, it also signals validation of our technology and business model by industry experts. We have the right stuff to lead the pack in global markets and contribute to Colorado's economy," said Tom McKinnon, Agribotix founder and CTO.

CEO Paul Hoff said, "The State's commitment to innovation makes a tangible difference. This grant will accelerate our plans by almost a year. We've gathered data analysis requirements from farmers around the world. Part of the grant will be used to better understand our customers' needs and drive development of products that solve important agricultural problems."

About Agribotix
Founded in Boulder, Colorado in 2013, Agribotix is a drone-enabled software company that provides advanced analysis for global agricultural applications. Agribotix offers two core solutions: the leading cloud-based data analysis and reporting solution for drone-derived agricultural data, and a turnkey package which includes an ultra-reliable drone that integrates with the analysis service. Both provide customers with actionable intelligence that results in substantially reduced field inputs, improved yield and increased profits for growers. For more information, visit www.agribotix.com or call (720) 295-3625.

SOURCE Agribotix

Related Links

http://www.agribotix.com

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