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10.9.2014

PrecisionHawk raises $10 million in a second round of institutional funding

Raleigh, N.C. based PrecisionHawk, a company which produces unmanned aerial vehicles (UAV), raises $10 million in a second round of institutional funding.

The round was led by Millennium Technology Value Partners, including existing investors RedHat co-founder Bob Young, and The Innovate Indiana Fund.

As mentioned, PrecisionHawk manufactures unmanned aerial vehicles (UAV), commonly known as drones equipped with sensors and cameras which are used for collecting various data about the land they survey.

The company offers a large variety of sensors for different drones which customers can choose from, or even add on their own.

Once the data is collected and survey reports are finalized, the related customer is notified to take further action. Founder and president of PrecisionHawk, Ernest Earon said, “PrecisionHawk is an information company, and we really view that as the value-add we deliver to our customers.

For us the only thing that matters is enabling our customers and our partners to make good decisions with the data.”

PrecisionHawk was co-founded by Ernest Earon and Christopher Dean in 2010, and previously it had raised $1 million in seed funding led by Bob Young and The Innovate Indiana Fund.

See the same article on tropicalpost.com.