William Elong raises 2 million euros to distribute its drones made in Cameroon
Promoter of the Cameroonian start-up Will & Brothers, who launched the first service of drones made in Cameroon, William Elong, who recently launched Algo Drone, a holding company based in Germany, reveals to have successfully completed the closing of its lifting operation announced in early 2018, at 2 million euros, a little over 1.3 billion CFA francs.
The Cameroonian genius, who blows on his 26 th candle on January 15, 2019, indicates that this financing mobilized from investors, will allow Algo Drone to develop the research and development component, then launch the conquest of the international market with the drones “made in Cameroon “and” Cyclop “, its offer of artificial intelligence.
“The first fundraising (approximately 124 million FCfa, Editor’s note) has allowed us to acquire expertise, the second allows us to grow (…) The contributors are foreign. I’m happy to have an international board, which brings me more than 30 years of experience at once. That said, I find it a shame to be the only African at the helm, “says the young Cameroonian entrepreneur, who says he has received many orders from Central and West Africa, since the official presentation of the first drones manufactured in Cameroon on February 2, 2018.
“We received orders from a hundred drones. But, we did not have enough production capacity to address the demand. We made the necessary adjustments in the last half of 2018, which adjustments paid off in the last quarter. Indeed, between October and December 2018, we recorded more orders than in 2 years. We just had to agree to give part of the production chain to technical partners, especially on the hardware part, while keeping the intellectual property and the software part of the drone in-house, “he says.