April 20, 2016

Verizon Ventures’ Newest Portfolio PrecisionHawk Accelerates the Use of Drones for Commercial Applications

Last year, I wrote about the commercial potential of Unmanned Aerial Vehicles (UAVs) and how the ecosystem can spur massive transformations in a variety on industries. Since then we invested in Skyward, a cloud-based information management solution designed for commercial drone operators, and have seen more investors propelling the growth of UAV technology with designated funds. Adoption of UAV technology is growing at a rapid rate and as such, I’m excited to announce our investment in PrecisionHawk, the provider of aerial data and safety platforms for drones. 

Founded in 2010, the company delivers an end-to-end solution using UAVs for data collection and analysis software tools to provide better business intelligence to clients across a wide range of civilian industries. From infrastructure surveying to agriculture, the Lancaster is PrecisionHawk’s fixed-wing, autonomous drone built to collect the highest quality terrestrial data using a host of integrated sensors. PrecisionHawk houses three divisions that support its system:

  • DataMapper aerial mapping and analysis software that efficiently turns UAV-acquired geospatial data into actionable insights that mitigate risk, maximize resources and drive growth across industries
  • TerraServer satellite and aerial imagery provider offering cost-effective and geospatial solutions to individuals and commercial clients
  • LATAS (Low Altitude Traffic and Airspace Safety) platform connecting airspace management technologies, geofencing and aircraft tracking into a service package for commercial and recreational drone operators as well as regulators and air traffic controllers

The opportunity is broad with UAVs and we’re beginning to see industries, like farming and precision agriculture, adopt applications to enable major breakthroughs. We look forward to building our relationship with PrecisionHawk as it continues to innovate and expand into new industries and geographies.

 

 

Related Post from Verizon Ventures:

Next-Generation Farming: Silicon Valley Meets the Central Valley and Beyond

From Future to Reality: 2016 Will Be A Big Year for Drones, AI, VR, E-Sports, and Gaming

Now’s the Time to Invest in UAVs

 

Tags: David Famolari , Data , Investment , drones , PrecisionHawk