Precision Hawk, a fast-growing drone tech startup based in Raleigh, raised a sum of $32 million in a recent round of financing.
Fremont, CA: Precision Hawk, a fast-growing drone tech startup based in Raleigh has raised a sum of $32 million to aid the growth of the commercial drone industry. Investors such as Millennium Technology Value Partners, Eastward Capital partners, third point ventures, and other such firms were part of the funding event.
Found in the year 2010, Precision Hawk, provides hardware as well as software solutions to the customers in numerous industries. The company, which uses its software to run analyses of data collected by drone footage, has seen high demand from industries like agriculture and utilities in recent years. With its new funding, there is no room for doubt that the firm will see growth in even more industries in the upcoming years.
PrecisionHawk has now raised more than $135 million in total, making it one of the well-funded startups in the concerned sector.
The CEO of the company, Chasen, explained the way Precision Hawk works on the collection of data. With the help of the Precision Hawk hardware and software solution, the operator of the drone can fly the device over an area and capture the available data. It requires the repetition of flights for about 20 to 40 min each. Once the data collection is done, the operators can make in-field adjustments and corrections accordingly.
He also added that the drone technology-enabled numerous organizations to collect unparallel data and actionable insights, while improving the security and creating a wide array of opportunities for the technicians at the forefront of the sophisticated drone technology.