PrecisionHawk, Inc., a Raleigh, NC and and Toronto, Canada-based provider of aerial data and safety platforms for drones, closed an $18m round of funding.
Backers included Verizon Ventures, a subsidiary of USAA, NTT Docomo Ventures, , and Yamaha Motor as well as existing investors Intel Capital, Millennium Technology Value Partners and Indiana University’s Innovate Indiana Fund.
The company, which has raised more than $30m in total funding to date, intends to use the funds to continue product innovation and global expansion of its low-altitude safety infrastructure and terrestrial data services.
Led by CEO Bob Young, PrecisionHawk provides a terrestrial data analysis platform, DataMapper, which currently ingests data from all drone systems but, in the future, will combine aerial data from satellites and manned aviation so users can manage, analyze and compare all incoming data sources on a single place. In 2015, DataMapper processed over a million acres and licensed over 200 analysis algorithms across industries from agriculture and insurance to energy and mining.
Another area of focus for 2016 is the development and commercialization of the Low-Altitude Traffic and Airspace Safety platform, LATAS, to allow safe integration of drones into national airspaces. To date, LATAS has won contracts with both state and international governments and has been demonstrated over Verizon’s LTE network under the FAA Pathfinder and NASA UTM programs.