AirWorks Solutions, a Cambridge, MA—based aerial mapping software provider, secured $2.3m in seed funding.
The round was led by Innospark Ventures with participation from MetaProp, FM Global, Rough Draft Ventures, and angel investors. In conjunction with the funding, Venkat Srinivasan, a managing director at Innospark, will join AirWorks’ board of directors.
Led by David Morczinek, CEO, AirWorks is developing aerial mapping software to help civil engineers and land developers assess and analyze construction sites in near real time.
The software interprets aerial data from drones, aircrafts or satellites to analyze construction sites and provide engineers with information about a site’s features. Through proprietary machine learning and aerial mapping technology, the company converts aerial datasets into computer aided design (CAD) site plans fully autonomously.
Having this information available from the beginning of the preliminary design process improves the ability to create accurate plans and designs, which leads to improved decisions, cost savings and less delays.
The company intends to use the funds to increase the speed of software development and launch a comprehensive SaaS platform for their solution in 2019.
The platform will allow clients to find existing information in one centralized database and offer the opportunity to order detailed aerial site inspections. This will enable AirWorks to expand its market reach and decrease the turnaround time for creating aerial site plans from 7 days to 24 hours.