Premoney 54: KiDrone & Outdefine*

Welcome to week 54! I’m using this week to highlight one new company which is approaching an extremely important issue, reforestation, as well as highlighting an opportunity to further support a previous Premoney company.

Also - welcome to the ~200 new Premoney readers since we last posted. The sharing momentum over the past few weeks has been amazing, thank you for supporting Premoney & the mission to help founders everywhere.

Outdefine:

🚀 Success! I featured Outdefine in week 49, and was able to make multiple fruitful introductions to investors. Since then, Romil and the Outdefine team were able to secure Jump Crypto, arguably the one of the most influential investors in the web3 space, as a lead investor for their seed round. I’m extremely impressed with the team, and excited for what they’ll do over the coming months.

💰 Syndication: As a “Friend of Premoney,” Rashaad Haque and I were able to secure an allocation in the remainder of Outdefine’s round, which Rashaad is running. After launching the syndicate on Monday, we’ve already locked in 40% of the allocation, and would love for more Premoney folks to get involved.

🙏🏻 Ask: If you are an accredited investor and are interested in contributing to or learning more, shoot me a reply to this note and I’ll share more info!

This weeks company:

Company: KiDrone

Founder: Trevor Grant

Raise Details: Raising $2.5M to bring KiDrone to an operational state.

• $700k committed

Vertical: AgTech, Climate

Business Model: B2B

1-Liner: KiDrone is a Reforestation Technology Company that is pairing machine learning with fully autonomous heavy-lift drones to plant smarter and more efficiently, and access more remote sites, than any other platform out there.

Description: KiDrone can plant farther by utilizing our fully automated drone platform that can cover an 800km range with a 6 hour flight time, meaning no site is too distant. We will plant smarter utilizing our proprietary machine learning software that will identify ideal sites for tree planting, taking into account the optimal density and distribution pattern for the terrain to ensure every seed is in the right spot. And we can plant more with the same platform utilizing its 140kg pay load, meaning an 8 million seed dispersed per day potential. Plant further. Plant smarter. Plant more. All this means our solution is the only drone direct seeding platform that is actually scalable to the levels needed to address the magnitude of deforestation and climate change that we are currently facing.

Traction Indicators:

• Booked for pilot programs with some of the largest ag customers in Canada.

• Pilot partners include both private and public sector customers.

Thats all for this week,

Jake