Operator investment demonstrates growing drone momentum

Two major global operators are among the backers of a drone-based data analytics firm, which recently received $18million in venture capital funding.

The VC arms of Verizon and NTT DoCoMo contributed to the funding of drone startup PrecisionHawk, which specialises in the gathering and analysis of geographic landscapes. PrecisionHawk refers to the use of unmanned aerial vehicles (UAVs) as a means of gathering meaningful data to analyse terrains for the use of Internet of Things technology principles in agriculture industry, disaster recovery and emergency response.

The startup works on three specific areas of drone-technology and its applicability for commercial or individual purposes: DataMapper, the analysis arm of the business which conducts aerial mapping and subsequent data analysis; TerraServer which provides satellite and aerial imagery for geospatial mapping; and Low Altitude Traffic and Airspace Safety (LATAS), for airspace management technologies, geo-fencing and aircraft tracking for both commercial and consumer purposes.

Director of Verizon Ventures, Dave Famolari, took to the company’s blog to express his delight at the investment and stressed the growing significance of drones in the telecoms market for enterprise and connectivity services.

“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,” he said. “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.”

The news of Verizon and NTT’s investment in PrecisionHawk adds to the growing momentum around Drone technology. One of the other major investors in the startup is Intel, which earlier this year acquired drone intelligence startup Ascending Technologies, in a bid to compete with Qualcomm also making strides in the drone market.