PrecisionHawk, a global provider of drone technology for enterprise, has secured a bumper investment to boost the take-up of commercial drone technology around the world.
The commercial drone and data company, which was founded in 2010, has raised $75m (£53m) through a round of funding from a group of venture and strategic investors.
This investment brings PrecisionHawk’s total funding to more than $100m (£79m) for the last eight years, making it the world’s most well-capitalised commercial drone company.
In a statement, the company announced it plans to reinvest much of its funding to grow its teams, innovate new products, and make strategic acquisitions as part of its broader mission to foster the adoption of commercial drones.
The recent round of investment was led by Third Point Ventures, with additional new investors including Comcast Ventures, Senator Investor Group, Constellation Technology Ventures and Syngenta Ventures, among others.
“PrecisionHawk’s mission is to empower the enterprise pioneer, from pilot to deployment. To drive transformational change, we believe a business needs an integrated hardware-software platform and the technical support to connect to existing systems and workflows,” said Michael Chasen, PrecisionHawk CEO.
“Drones are not only replacing old information with more precise information. They are providing an entirely new layer that was previously unattainable or economically prohibitive to collect. With advanced sensors such as LiDAR (Light Detection and Ranging) and the analytics to interpret their outputs, organizations are gaining unprecedented visibility into their work. Ultimately, making them more profitable and sustainable.”
Over the last year the rapidly growing company has hired over 100 new members of staff, expanded its global applications and rolled out new applications, including energy, insurance, government and construction.
Robert Schwartz, managing partner of Third Point Ventures, added: “The business insight that can be achieved with PrecisionHawk technology will be a catalyst for profound transformation, and this investment gives us an opportunity to support their growth and continued industry leadership.”