Young, Promising and Dynamic, William Elong vibrates the ecosystem once more with his 1.3 billion FCFA announcement. The young Cameroonian entrepreneur announced having raised 1.3 billion FCFA to conquer the international market with his drones made in Cameroon. This is Just after raising about 124 million FCfa in the first fundraising.
Promoter of the Cameroonian start-up Will & Brothers, which launched the first ever civilian drone service in the country, William Elong, recently launched Algo Drone, a holding company based in Germany.
The 1.3 billion FCFA fundraising operation
William Elong reveals to have succeeded the closing of its fundraising operation of over 1.3 billion CFA francs, announced at the beginning of 2018.
He equally indicates that this financing from investors, will allow Algo Drone develop the research and development component. Elong also plans to launch the conquest of the international market with the drones “made in Cameroon “and”Cyclop”.
“The first fundraising (about 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 experiences at once. That said, I find it a shame to be the only African at the helm,” says the young Cameroonian entrepreneur.
Furthermore, he revealed that he received many orders from Central and West Africa. This is 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 a 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 internally,” he says.
With a successful fundraising campaign, William Elong is ready to conquer the international market with his drones made in Cameroon.