Australian startup Propeller Aero has raised US$10 million in a Series A funding led by Blackbird Ventures.
Propeller software provides drone analytics solution to clients which enables them to measure and manager their sites themselves. Previous investors, 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.
The startup will use the new capital to aggressively scale up its team globally and expand within the market. Again, it will accelerate the research and development as Porpeller will continue to innovate to deliver new technology in the space.
Co-founder of Propeller San Miguel thinks their technology can be of immense help to the several industries.
“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.”
“Surveying construction sites doesn’t often make headlines, but it’s where drones are making a difference in trillion-dollar global sectors, 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.” added Francis Vierboom, a Co founder.
The tech company opened its first North American division in Denver in November 2017. This branch will be in charge of sales and marketing.