PrecisionHawk raises $32M for next generation of drone software and services

The drone company will use the financing to develop the next generation of PrecisionAnalytics, and their A.I.-powered aerial data analytics platform

PrecisionHawk raises $32M for next generation of drone software and services
PrecisionHawk raises $32M for next generation of drone software and services

PrecisionHawk raises $32M for next generation of drone software and services

PrecisionHawk is pleased to announce a $32 million investment from venture investors including Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others. The drone company will use the financing to develop the next generation of PrecisionAnalytics, and their A.I.-powered aerial data analytics platform, while also investing in sales and servicing operations to address the growing demand for commercial drone services.

Some of the world’s largest organizations–including five of the top 10 utility companies, the largest provider of communications infrastructure in the United States, and the “Big Six” providers of seed and agricultural chemicals–work with us to strengthen their operations using drone technology. From managing asset inventory to measuring the health of telecommunications towers, electricity distribution lines or even crops, our drone-based solutions are helping visionary business leaders change the way work gets done.

The commercial drone industry is growing: the FAA forecasts that it could triple between now and 2023, with an estimated 823,000 drones flying by that time. PrecisionHawk is using the latest round of funding to support that growth. The company’s flight software and trainers can help drone operators achieve safe and consistent drone-based data collection missions within the United States’ existing national airspace system.

Since PrecisionHawk’s founding in 2010, they’ve led policy and technology development efforts to foster global adoption of commercial drone technology.

Michael Chasen was recently appointed by U.S. Secretary of Transportation Elaine Chao to serve as the Chairman for the Drone Advisory Committee (DAC), a group established by the FAA to advise on key challenges and opportunities for drones in United States airspace.

PrecisionHawk plans to continue to lead the way, assisting regulators and encouraging industry participants to adopt innovative policies and technologies that can support not only today’s drone use cases but those of tomorrow.