PRENAV and DroneDeploy: two drone companies announce funding rounds today

With the Part 107 rules taking effect in less than a week, the commercial drone industry has never been at such a growth point.

That’s obvious for two major drone companies — PRENAV and DroneDeploy, which both announced major funding rounds Wednesday.

DroneDeploy, a cloud software platform for commercial drones, today announced the company has raised $20 million in Series B financing led by Scale Venture Partners, bringing its total amount of funding to $31 million.

funding rounds

DroneDeploy Co-Founders Mike Winn, Nicholas Pilkington and Jono Millin

DroneDeploy says it will use the funds to accelerate its market penetration, develop additional enterprise features and enable businesses to extract even deeper insights.

PRENAV announced that it has raised $6.5 million in seed financing from lead investor Crosslink Capital, along with HaystackLiquid 2 Ventures, and WI Harper Group. These organizations join existing investors Pejman Mar Ventures, Toivo Annus, and a number of other investors.

PRENAV is developing automated commercial drones that are guided by computer vision, initially targeting infrastructure inspections. Its commercial drone system is expected to be released in 2017.

“With the FAA’s new Part 107 drone regulations taking effect at the end of August, we expect tens of thousands of workers from industry to become certified as drone operators,” said Eric Chin, Partner, Crosslink Capital. “By automating pilot skill out of the equation, PRENAV is well positioned to become the technology that enables these new operators to perform their jobs safely and reliably.”

One Comment

  • Hushel says:

    Its insane how much venture capital is going to new drone startups right now. I’m really interested in seeing how long this goes for. Prenav sounds a little bit like what 3D Robotics is talking about doing, a pivot away from consumer drones and into B2B applications. Good luck to all of them!

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