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DroneBase gets USD 12m round of Series B funding.

M2 EQUITYBITES-February 16, 2018-DroneBase gets USD 12m round of Series B funding



DroneBase, the largest global drone operations company, has announced it has raised USD 12 million in Series B funding to expand its drone operations services for enterprises, the company said.

Union Square Ventures (USV) and Upfront Ventures co-led the round alongside DJI and new investors Hearst Ventures and Pritzker Group. This brings DroneBase's total funding to more than USD 17 million.

DroneBase recently completed over 100,000 commercial drone missions for enterprise clients across various industries such as real estate, insurance, telecommunications, construction, and media. The company has the largest, most engaged and skilled drone pilot network, having grown it 10x year over year for the past two years. Through this network, DroneBase is able to turn around a client mission in less than 48 hours anywhere in the United States, since its pilots are active in all 50 states and over 60 countries.

With this funding, DroneBase will focus on expanding its enterprise offering to include AirCraft Pro. DroneBase's AirCraft technology is the first augmented reality (AR) technology for both recreational and commercial drone use. Since AirCraft's launch on the DroneBase Pilot App, drone pilots have placed hundreds of thousands of blocks throughout the world. Available later this year, AirCraft Pro will enable companies from insurance to construction and real estate to telecom to use the AR technology for a wide variety of use cases.

DroneBase is the most scalable, affordable, and easy-to-integrate solution for enterprises to acquire drone data from the world's largest pilot network. Based in Los Angeles, the company is the trusted, go-to platform for aerial images and data for worldwide enterprise commercial clients across multiple industries such as residential and commercial real estate, insurance, telecommunications, construction, and media. The company was incubated by Y Combinator and has raised more than USD 17 million in funding from Union Square Ventures, Upfront Ventures, Hearst Ventures, Pritzker Group, Accel Partners, SV Angel and DJI.

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Publication:M2 EquityBites (EQB)
Date:Feb 16, 2018
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