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Sydney, March 31: American billionaire entrepreneur Tim Draper will invest in Australian-based Lord of the Trees (LOTT) – a drone planting eco-tech firm committed to revolutionising the way in which the planet is replanted.
Although the amount of the investment wasn’t disclosed, funding by Draper’s company will increase the valuation of LOTT to about AU$7 million.
The investment comes from Draper Associates’ ESG fund that backs technology startups with inherent ESG principles and the potential to transform industries for a better future.
LOTT is a global reforestation company that uses precision drone technology, AI and proprietary seed pods to restore ecosystems worldwide.
Currently the company has projects underway in Townsville and the Sunshine Coast in Australia, and imminent plans for new planting to begin planting in Australia’s Daintree rainforest, Greece and parts of America.
Discussions for additional projects are underway with local and international government agencies, NGOs, environmental groups, mining corporations and agricultural landowners.
“Not all planting is created equal. The old manual, hand planting methods were time-consuming and came with a high failure rate, so the entire approach to reforestation needed a major rethink,” LOTT founder Aymeric Maudous ( pictured above) said.
“By combining the knowledge of environment experts, scientists, engineers, animal protection agencies and indigenous communities we are able to deploy swarms of drones to undertake companion planting. Our planting rate of about 400,000 seed pods in 12 hours which enhances the plants’ symbiotic relationship to ensure success of the replanted areas.
“I believe our significant research and tech capabilities really appealed to Tim Draper, and we are delighted to welcome him as Lord of the Trees’ lead investor.”
Within the framework of the UN’s Decade on Ecosystem Restoration, Lord of the Trees is poised to become an industry disruptor in upscaling environmental protection and habitat regeneration.
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