Company Name: Lord of the Trees
Announcement Date: 31/03/2022
Announcement Category: Investment
After investing in PayPal and putting his financial weight behind household names including Tesla, SpaceX, Twitter, Skype and Hotmail, U.S. entrepreneur Tim Draper, billionaire founder and managing partner of Draper Associates, today announced his investment in Lord of the Trees (LOTT), with a $1.25m (USD) Pre-seed investment.
LOTT is an Australian-based drone planting eco-tech firm committed to revolutionising the way in which the planet is replanted.
Funding by one of the giants of Silicon Valley increases the valuation of Lord of the Trees to AUD$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 under way with local and international government agencies, NGOs, environmental groups, mining corporations and agricultural landowners.
Tim Draper said: “For ages I had been wanting to invest in a company that’s truly committed to planet regeneration, and then I found Lord of the Trees! I was thrilled by their simple technological solution and innovative business model, plus their commitment to meet the growing needs of carbon reduction across the globe.
“I marvel at the possibilities this company is creating for our planet and their commitment to restoring our ecosystems.”
The need for innovative, effective replanting of the planet has never been more urgent:
· 18.7 million acres of the earth’s forests are lost per year – that’s the equivalent of 27 soccer fields per minute.
· About half of the world’s tropical forests have now been cleared.
· 80% of earth’s land animals and plants live in forests.
· Deforestation threatens these species including the orangutan, Sumatran tiger and many species of birds.
Aymeric Maudous, Lord of The Trees founder, said: “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.
“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.
NOTE: THIS ANNOUNCEMENT WAS MADE BY TECHBOARD ON BEHALF OF LORD OF THE TREES.
AUSTRALIAN STARTUPS CAN SET UP OR CLAIM THEIR COMPANY PROFILE ON TECHBOARD AND MAKE ANNOUNCEMENTS LIKE THIS ONE FOR NO CHARGE.
Announcement URL: https://www.prnewswire.com/news-releases/lord-of-the-trees-raises-1-25-million-pre-seed-round-led-by-draper-associates-301512821.html
About Lord of the Trees:
Global reforestation project that uses precision drone technology to plant seeds & restore ecosystems in degraded land.
Go to Company Profile for: Lord of the Trees
Announcement Contact: [email protected]