PRESS RELEASE: Propeller Aero has received a new infusion of US$10 million in Series A funding. The round was led by Blackbird Ventures, with participation from all existing major investors and new investor Sequoia China.
The investment brings Propeller's total funding to US$14 million since launching in 2014. The company said this recent round will be used to aggressively scale the team globally and expand within the market. Additionally, it will help broaden and accelerate product development as Propeller continues to deliver new technology.
Propeller's cloud-based analytics platform for visualising drone survey data allows teams to track their worksites' progress and productivity, and make data-driven decisions that can reduce costs, ensure quality and use resources efficiently.
"We're delighted to be able to fuel the journey of Propeller in a more substantial way, right at the time drones are reshaping the way the industrial world conducts every aspect of their business," said Niki Scevak, partner at Blackbird Ventures.
Propeller, opened its North American headquarters (home to its sales and marketing divisions) in Denver, Colorado, US, in November 2017.
Last year, Propeller also announced a key partner alignment with Trimble, which meant its cloud-based visualisation platform, along with AeroPoints (its automated GCP system), was integrated with Trimble's Connected Site solutions. Propeller platform licences are also distributed via Trimble's global network of dealers.
Rory San Miguel, co-CEO and co-founder of Propeller, said: "The construction and mining industries are starting to see how powerful drone-mapping and analytics tools really are — they're quickly becoming the industry standard.
"Since Propeller's launch in 2014, we've gained partnerships with top-tier industry players like Trimble and DJI. The new financial support will help us expand our team, move into new markets and execute our vision faster and more broadly."