Armenia-based Granatus Ventures has made an investment in IntelinAir, a company founded by American businessman Al Eisaian and scientists Naira Hovakimyan and Ara Nefian.
Naira Hovakimyan told Itel.am they will use the money to further develop IntelinAir.
“We already have 11 scientists and engineers working in Armenia. With the additional investment, we will be able to hire and expand our team more and support the technological developments in Armenia, foster the exchange of ideas and collaborations across two countries [Armenia and USA],” said Naira Hovakimyan.
Granatus Ventures hasn’t disclosed the amount of investment.
“Granatus Ventures team is confident that along with attractive commercial opportunities, the investment will also facilitate fundamental progress of technological and business competence at the local level,” stated the company.
IntelinAir makes high-resolution imagery via drones in order to create “MRI of farms”. The company is based in San Jose and has an office at the University of Illinois.
The Armenian office of the IntelinAir team works on algorithms and software.
You can check out our interview with Naira Hovakimyan here.
17:00 | 15.06.18BarCamp 2018 launches in Yerevan