PrecisionHawk, a provider of aerial data and safety technology for drones, announced that DuPont has joined its previously-announced $22.7 million (US$18 million) Series C round. The deal’s other investors included Innovate Indiana Fund, Intel Capital, Millennium Technology Value Partners, NTT Docomo Ventures, Verizon Ventures, a USAA affiliate and Yamaha Motor. PrecisionHawk, which is based in Raleigh, North Carolina and Toronto, has now raised US$30 million in total funding, the company reported.
PrecisionHawk Announces DuPont as Newest Investor
DuPont Joins an Investor Group That Includes Intel Capital, Verizon Ventures, Yamaha Motor, USAA, NTT Docomo, Millennium Technology Value Partners and the Innovate Indiana Fund
RALEIGH, NC–(Marketwired – April 27, 2016) – PrecisionHawk — a leading provider of aerial data and safety platforms for drones — announced today that DuPont has joined its previously announced round of series C funding. As a top provider of drones and drone data tools for the agricultural market, PrecisionHawk has been providing its tools and services to DuPont as a customer for a number of years. This collaboration will work to accelerate the commercial use of drones and build the tools that matter for agriculture.
“At DuPont Pioneer, we’re driving a new era of agriculture productivity that enables farmers to increase profitability and sustainability through data-driven insights,” said Neal Gutterson, DuPont Pioneer Vice President of Research & Development. “The deepening of our relationship with PrecisionHawk is an important part of the Pioneer digital agriculture platform strategy, as well as our Encirca℠ services offering. Our goal is to provide growers valuable prediction-based product placement insights by incorporating elite genetics, agronomic management and environmental variation analysis into our already successful prediction-based breeding program.”
This investment brings PrecisionHawk’s total funding to more than $30 million to continue product innovation and global expansion of the company’s terrestrial data services, DataMapper, and low-altitude safety infrastructure, LATAS.
Both DuPont and PrecisionHawk recognize the opportunity for drone technology solutions in agriculture. Previous analyst reports have estimated this economic impact to exceed $60B over the next 10 years.
“Working with an influential client like DuPont, we immediately saw the value that has yet to be unlocked for aerial data analysis in agriculture,” said Christopher Dean, President of PrecisionHawk. “With investors now representing the agriculture, insurance, and telecommunication industries, PrecisionHawk is well positioned to understand the nuance that will help us create unique value for all of our commercial partners.”
About PrecisionHawk Inc.
PrecisionHawk is a terrestrial data acquisition and analysis company founded in 2010. The company provides an end-to-end solution using Unmanned Aerial Vehicles (UAVs) for data collection and analysis software tools to deliver better business intelligence to clients across a wide range of civilian industries. PrecisionHawk also owns terrestrial data software, DataMapper, satellite imagery provider, Terraserver, and the Low Altitude Traffic and Airspace Safety platform for drones, LATAS. A privately held company based in Raleigh, NC and Toronto, Canada, PrecisionHawk’s investors include Intel Capital, Millennium Technology Value Partners, Verizon Ventures, a subsidiary of USAA, NTT Docomo Ventures, Yamaha Motor, DuPont and Indiana University’s Innovate Indiana Fund. More information about PrecisionHawk can be found at www.precisionhawk.com or on Twitter @PrecisionHawk.
Encirca℠ services are provided subject to the terms and conditions of purchase which are part of the purchase documents. ℠Trademarks and service marks of DuPont, Pioneer or their respective owners.
Sr. Director Communication
Photo courtesy of PrecisionHawk Inc