Autonomous drone hive software specialist vHive has received a $4 million (£3.1 million) boost to its series A funding round.
The funding extension was led by Telekom Innovation Pool (TIP), Deutsche Telekom’s strategic investment fund advised by DTCP.
It will be used to support vHive’s growth as it helps enterprises gain business insights to their field assets while streamlining costs.
vHive claims to be the only software solution that enables enterprises to deploy autonomous drone hives to digitise their field assets and operations.
Yariv Geller, CEO and co-founder of vHive, said: “We are thrilled to have the backing of a significant industry player such as Deutsche Telekom as a testimonial to vHive’s innovation.
“Deutsche Telekom’s investment demonstrates their commitment to digitising their infrastructure using the vHive platform as well as the acceptance of drones, digital twins and data analytics as a significant telecom industry practice with clear use cases and ROI.”
Deutsche Telekom is one of the world’s leading integrated telecommunications companies.
Vice president and TIP co-managing director, Joel Fisch, commented: “The last decade has seen an explosion of end-device processing power, imaging technology and cloud compute.
“Coupled with advances in drone technology and increasingly sensitive sensors, this has created disruptive opportunities around how to capture and analyse the physical world.
“vHive sits at the confluence of these trends and is developing technology and business models for digitising physical assets as a new drone ecosystem comes into being.”