PrecisionHawk, a Raleigh Trianlge-based drone technology company, has raised a $32 million investment from venture investors including Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others. The round brings PrecisionHawk’s financing so far to more than $100 million.
PrecisionHawk CEO Michael Chasen said the company has had 100 percent year-over-year growth for two years. It has 140 employees currently, but he notes that’s a deceptive figure since it employs a network of many thousands more, including drone pilots.
PrecisionHawk focuses on drones used to monitor energy, agriculture, and telecom spaces. It puts drones to work doing tasks that have previously needed persons to eyeball fields, cell towers, or equipment.
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, the company said.
???? CHARLESTON – Fast trajectory. Two years after launching its first fund, Charleston-based Good Growth Capital says it has seen enough success to set up two more. Good Growth has invested in a handful of firms in the South, including Dynepic, Reflection Analytics and The New Primal in Charleston, to name a few. It also invests heavily in the Raleigh area. Its first fund made 21 investments. Get the deets.
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