Propeller Aero, an Australian startup providing drone analytics solutions to help people measure and manage their sites themselves, announced today it has raised a US$10 million in Series A funding, led by Blackbird Ventures.
All of its existing backers, besides new investor Sequoia China, also co-invested in this round.
The investment brings Propeller’s total funding to US$14 million since launching in 2014.
This fresh capital infusion 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 innovate and deliver new technology.
“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,” said Co-CEO and Co-founder of Propeller Rory San Miguel. “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.”
Propeller is a cloud-based analytics company that visualises drone survey data to help heavy civil construction and resources operations measure and manage their worksites themselves. Heavy civil construction and resources operations use Propeller to track site changes safely and accurately, with 3D visual tools that everyone can use. Propeller claims it gives teams the full picture, empowering people to go deeper and work together better.
“Surveying construction sites doesn’t often make headlines, but it’s where drones are making a difference in trillion-dollar global sectors,” said Propeller Co-CEO and Co-founder Francis Vierboom. “We’ve seen cloud-based tools transform other industries, but before Propeller there were limited options for worksites. Propeller brought cloud-based tools to tablets on sites around the globe. They’re seeing fewer disputes, mistakes, and lower reporting overheads.”
In November last year, the startup opened its North American headquarters (home to its sales and marketing divisions) in Denver in November 2017.