PrecisionHawk Raises $32 Million


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PrecisionHawk, Inc., a leading provider of drone technology for the enterprise, has announced a $32 million investment from venture investors including Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others.

The financing will fuel continued innovation in PrecisionHawk’s software tool, PrecisionAnalytics that uses artificial intelligence/machine learning, to help enterprises better utilize data collected by drones to solve business challenges. The financing will also accelerate sales initiatives and further market expansion.

Learn more about PrecisionHawk's latest fundraising round: PrecisionHawk Raises $32 Million to Advance Next Phase of Growth in Commercial Drones

Share your thoughts on PrecisionHawk's most recent funding round in the comments below.

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I think its great that investors are still investing in drone related companies but we should be careful using that investment as a litmus test for success in the commercial UAV industry.

There are a lot of companies that are choosing not to go down the path of debt equity, PrecisionHawk was one of them.  They started in the Ag segment and manufactured their own UAV, a very good fixed wing, also created the beginnings of a marketplace where researchers, farmers, and other stakeholders could trade tech that helped make the data collected actionable.  It was very impressive.  

Once they raised $75M venture capital they got rid of their drone and marketplace, refocused on industrial inspection, and essentially became a drone pilot employment agency.  They went from being an agile, innovative company to a company that's trying to buy marketshare.

So once you get past the hype in their press release, what's the $32M round for?  To create the technology that they've been selling to existing customers for the past two years?  I guess when you've already successfully raised $75M the concept of "fake-it-till-you-make-it" goes to a whole other level...

Like I said, I think its great that people are still interested in investing in the commercial UAV market.  It certainly validates the potential scope of the opportunity.  The point is there are a lot of companies developing great platforms that aren't funded by venture capitalists looking for smart, experienced people to deliver on what PrecisionHawk is promising.    

In their press release talk about developing a platform for the future.  I dislike that type of hype.  Do they mean they're going to develop something similar to what we developed a year ago?

https://iplayerhd.com/player/d8295783-f39d-4295-802d-c3e42acb4cb6

I know, jokes are meant to be funny.   At any rate, there certainly is a lot of money and opportunity in this market and you don't need to be venture funded or work at some huge company to make a difference.  

 

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