PrecisionHawk, Inc., a Raleigh, N.C.-based provider of drone technology for the enterprise, raised $32m in funding.
Backers included Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others.
The company intends to use the funds to accelerate innovation in its software tool, PrecisionAnalytics, sales initiatives and market expansion.
Led by Michael Chasen, CEO, PrecisionHawk provides PrecisionAnalytics, which uses artificial intelligence/machine learning, to allow enterprises to utilize data collected by drones to solve business challenges.
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, use PrecisionHawk to apply innovative drone hardware, software and services to address critical business challenges, from managing asset inventory to measuring the health of telecommunications towers, electricity distribution lines or even crops.
The client list includes Fortune 500 companies spanning a range of industries, including agriculture, energy, and telecommunications.