5X5 Technologies, a drone data analysis specialist, has received a $6 million (£4.7 million) investment from Boston venture fund Safar Partners.
5X5 is a provider of 3D spatial computing and data analysis of drone-collected data.
Now, the company announced it has closed the first tranche of its series B funding with Safar Partners Fund.
The new equity funding will accelerate the expansion of 5×5’s Ávrio Compute and Reality CAD data analysis platforms which ingest drone collected data and using photogrammetry to reconstruct precise, high fidelity 3D digital twins.
To date in 2020, 5×5 reconstructed over a 1300 digital twins for customers including tower owners, carriers and engineering companies in US and is currently expanding into Europe and the Middle East.
“Our proven data collection standard operator procedures combined with our proprietary workflows and our Ávrio Platform make utilising drones at large scale for asset management a reality,” said 5×5 CEO, Anne Zink. “Delivering actionable insights within a 3D environment provides unparalleled levels of information on each asset giving engineers the tools to they need to optimise each asset’s value to the business.
“Our partnership with AWS and Safar Partners will allow us to accelerate delivering even greater insights to our customers.”
The company works with infrastructure clients, it said, to develop their UAS-powered asset-inspection strategy, recommend the best UAS platform to meet the mission requirements, and deliver an accurate, easy-to-use SaaS application to help quickly analyse the data.