The Robot Report

  • Research
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • Grippers / End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors / Sensing Systems
    • Soft Robotics
    • Software / Simulation
  • Development
    • A.I. / Cognition
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Defense / Security
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
  • Investments
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast

PrecisionHawk raises $32M for drones-as-a-service platform

By Steve Crowe | December 11, 2019

PrecisionHawk

PrecisionHawk helps businesses use drone data to solve business challenges. | Credit: PrecisionHawk

PrecisionHawk, a North Carolina-based drones-as-a-service company, closed a $32 million Series E round. PrecisionHawk has raised more than $136 million to date. It will use the funding to continue developing its hardware and software offerings.

PrecisionHawk has customers in a variety of industries, including agriculture, energy, and telecommunications. Some of its applications for agriculture include counting crops, quantifying plant health and maximizing yield. It said another leading application is inspecting telecommunications towers and electricity distribution lines.

PrecisionHawk offers an integrated platform of drone and sensor hardware and flight and analytics software services. The data that is collected by the company’s drones, which include a BirdsEyeView FireFLY6 Pro, DJI Matrice 200 V2, DJI Matrice 600 Pro and others, and is turned into actionable intelligence using the company’s PrecisionAnalytics software tool.

“This is an exciting time at PrecisionHawk and the commercial drone industry overall as adoption of drones continues to grow at exceptional rates,” said Michael Chasen, CEO of PrecisionHawk. “Our unique software and services deliver incredible value to our customers, equipping them with the highest level of aerial intelligence to meet their current and future asset management and operating needs. We are pleased with this latest round of funding which will help us better address this surging demand, particularly in the energy and agriculture markets, and lead us into sustained profitability and growth.”

Related: Exyn drone maps inactive mine on the fly

Chasen was recently appointed by U.S. Secretary of Transportation Elaine Chao to chair the FAA’s Drone Advisory Committee. The Series E round was led by Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and other investors.

“We are excited to continue our support of PrecisionHawk during this next phase of its growth. The feedback from customers has been very promising and we believe PrecisionHawk is well positioned to capitalize on the huge market opportunity ahead of it,” said Sam Schwerin, co-founder and Managing Partner of Millennium Technology Value Partners. “PrecisionHawk’s powerful PrecisionAnalytics software applies the latest generation of artificial intelligence to aerial data unlocking the data’s potential to accelerate and optimize work for the enterprise.”

While the commercial drone bubble has certainly burst, this should be a sign that investors are still positive about the future of the industry. Here are some other notable commercial drone-related investments that occurred during 2019.

Notable Drone Investments of 2019

CompanyAmt. (M$)RoundMonth
Zipline190May
Anduril Industries127Series BSeptember
DroneDeploy35Series DNovember
Aerodyne Group30Series BOctober
Clobotics22pre-Series BAugust
Exyn Technologies16Series AJuly
Pensa Systems10SeedNovember

About The Author

Steve Crowe

Steve Crowe is Editor of The Robot Report and co-chair of the Robotics Summit & Expo. He joined WTWH Media in January 2018 after spending four-plus years as Managing Editor of Robotics Trends Media. He can be reached at [email protected]

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

LG Electronics announces autonomous disinfection robot for business applications
LG Electronics announces autonomous disinfection robot for business applications
Immervision works to widen field of view for autonomous vehicle lidar
Immervision works to widen field of view for autonomous vehicles and drones
Skygauge Robotics raises $2.5M in funding for infrastructure inspection drones
Skygauge Robotics raises $2.5M in funding for infrastructure inspection drones
Airdata offers Autel pilots free trial of fleet management software for drone safety
Airdata offers Autel pilots free trial of fleet management software for drone safety

Robotics Year in Review

The Robot Report Listing Database

Latest Robotics News

Robot Report Podcast

How AMP Robotics is changing recycling; Festo wins GM gripper challenge

The Robot Report Podcast · How AMP Robotics is changing recycling; Festo wins GM gripper challenge

Sponsored Content

  • Doosan Robotics: Driving Innovation and Growth in Cobots
  • FORT Robotics Podcast: FORT Robotics on how to keep humans safe and in control of robots
  • Pallet Detection Systems Help Automated Forklifts Modernize Warehouse Operations
  • IES Servo Control Gripper
  • How to cut the cost of manufacturing

Tweets by RoboticTips

The Robot Report
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Business Review
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Advertising
  • Contact Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media. Site Map | Privacy Policy | RSS

Search The Robot Report

  • Research
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • Grippers / End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors / Sensing Systems
    • Soft Robotics
    • Software / Simulation
  • Development
    • A.I. / Cognition
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Defense / Security
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
  • Investments
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast