DroneBase Secures Funding to Bolster Growth in Renewable Energy
DroneBase, a leading aerial data and analytics company, announced today it has raised $7.5 million in new capital, expanded its service to the renewable energy market, and founded DroneBase Europe, GmbH, in Germany. New investors Valor Equity Partners and Razi Ventures joined Union Square Ventures (USV), Upfront Ventures, Hearst Ventures, Pritzker Group Venture Capital and DJI in the round.
“This funding will drive our laser focus on serving the renewable energy sector,” said Daryl Watkins, Vice President of Enterprise Solutions at DroneBase. “With multiple enterprise wins this year with OEMs and asset owners in both wind and solar, we have further cemented our position in the renewables market. “
“DroneBase has been instrumental in helping us scale solar asset inspection and analysis across North America,” said Jamie Mordarski, Director of Operations and Maintenance, Americas at SMA. “Their ability to provide 100 percent asset coverage using ground-based systems, drones, and manned aircraft gives them a tremendous competitive advantage. We look forward to growing our partnership with DroneBase as our portfolio grows.”
DroneBase’s new entity and office in Germany will expand its ability to support customers with assets in Europe, while introducing new clients to its capabilities in industries spanning insurance, construction, real estate, telecommunications, and energy.
Despite the global COVID pandemic, DroneBase has continued to increase sales and set new revenue records in March, April, and May this year. With flight operations supported by its network of pilots in each of the United States and over 70 other countries, along with its team of company pilots, DroneBase can fly contactless missions, ensuring the safety of both pilots and customers.
About DroneBase:
DroneBase is a leading aerial data analytics company, which provides businesses with a platform to leverage the world’s largest Pilot Network to make better decisions about their most critical assets. Based in Los Angeles, the company is the trusted, go-to software platform for worldwide enterprise clients spanning industries such as renewable energy, insurance, telecommunications, construction, real estate, and media. DroneBase has completed over 100,000 commercial missions flown in over 70 countries and in all 50 states. The company was incubated by Y Combinator and has raised $32 million in funding from FLIR Systems, Union Square Ventures, Upfront Ventures, Hearst Ventures, Pritzker Group, Valor Equity Partners, Razi Ventures, Accel Partners, SV Angel and DJI.
