ANNOUNCEMENT 14 Mar 2019
On March 14th, 2019, the Innovation Network Corporation of Japan (INCJ) along with 5 Japanese firms created a fund for the development and production of agricultural drones.
NUMBER OF INTERVENTIONS
INCJ (2019) 農業用ドローンのナイルワークス、総額約 16 億円の第三者割当増資を実施 Implemented a third-party allotment of approximately ¥ 1.6 billion in total for agricultural drones
On March 14th, 2019, the Innovation Network Corporation of Japan (INCJ) along with Sumitomo Chemical Co., Sumitomo Shoji Co., Kumiai Chemical Co., Sparks Group Co., Ltd. And Drone Fund No. 2, a 2.4 billion yen fund called Nileworks was created for the development and production of agricultural drones. INCJ will contribute 1.6 billion yen (15 million USD) to this fund. The agriculture drones seek to assist in Japanese agriculture production by offsetting the decline in the farming population in rural Japan. The drones role is to fly around farms and diagnose the growth of crops through advanced camera technology.