Propeller Aero has secured a new infusion of funding to enable its plans to ‘aggressively’ scale up the business.
The cloud-based analytics company that visualises drone survey data in civil construction has secured $10m (£7.4m) in Series A funding, taking its total capital up to $14m (10m).
The round was led by Blackbird Ventures with participation from all existing major investors, and Sequoia China which joined the round.
Propeller Aero said its most recent round of funding will be used to ‘aggressively scale’ the team globally and expand within the market. Additionally, it will help broaden and accelerate product development as Propeller continues to innovate and deliver new technology.
“The construction and mining industries are starting to see how powerful drone-mapping and analytics tools really are, they’re quickly becoming the industry standard,” said co-CEO and co-founder of Propeller Rory San Miguel.
“Since Propeller’s launch in 2014, we’ve gained partnerships with top-tier industry players like Trimble and DJI. The new financial support will help us expand our team, move into new markets, and execute our vision faster and more broadly.”
Since Propeller’s launch in 2014, the company has gained partnerships with top-tier industry players, including Trimble and DJI.
Niki Scevak, partner at Blackbird Ventures, said: “We’re delighted to be able to fuel the journey of Propeller in a more substantial way, right at the time drones are reshaping the way the industrial world conducts every aspect of their business.
“Propeller is growing among the fastest of any company we have seen and we are so excited for the future.”