Intel Capital announced today its participation in PrecisionHawk’s $10 million series B funding round.
PrecisionHawk, a startup that operates UAVs for data gathering, processing and analysis, is the latest startup to receive major funding from an investment group. Since the funding round was announced, PrecisionHawk has launched a tool called DataMapper that automatically interprets data from a UAV. They have also announced plans to release a new model of its fixed-wing UAV, Lancaster Mark IV, in early 2015.
Among PrecisionHawk’s problems they aim to solve include:
- Better monitoring crops and predicting yield to help feed a growing population
- Overseeing operations across hundreds of oil rigs so we catch oil spills in square feet instead of square miles
- Assessing property damage to immediately issue insurance claim checks after a disaster.
“Drones hold the promise of revolutionizing many industries, some new and some very old, like farming,” said Intel’s Jerry Bautista in a news release. “We are pleased to be working with PrecisionHawk, whose unique approach of combining versatile remote-sensing devices with powerful data analytics fits well with Intel’s strengths in hardware and software for the Internet of Things.”