![\"\"](\"\/wp-content\/uploads\/PHAgDroneFlight-824x1024.jpg\")
<\/figure><\/div>\n\n\n\n\u201cThis is an exciting time at PrecisionHawk and the\ncommercial drone industry overall as adoption of drones continues to grow at\nexceptional rates,\u201d said Michael Chasen, CEO of PrecisionHawk. \u201cOur unique\nsoftware and services deliver incredible value to our customers, equipping them\nwith the highest level of aerial intelligence to meet their current and future\nasset management and operating needs. We are pleased with this latest round of\nfunding which will help us better address this surging demand, particularly in\nthe energy and agriculture markets, and lead us into sustained profitability\nand growth.\u201d<\/p>\n\n\n\n
Some of the world\u2019s largest organizations, including five\nof the top 10 utility companies, the largest provider of communications\ninfrastructure in the United States and the \u201cBig Six\u201d providers of seed and\nagricultural chemicals, rely on PrecisionHawk to help them apply innovative\ndrone hardware, software and services to address critical business challenges.\nFrom managing asset inventory to measuring the health of telecommunications\ntowers, electricity distribution lines or even crops, PrecisionHawk\u2019s\ndrone-based solution delivers a flexible and cost-effective path to inspect and\nmanage valuable assets.<\/p>\n\n\n\n
The commercial drone industry has grown faster than\nanticipated and the FAA forecasts that it could triple between now and 2023,\nwith an estimated 823,000 drones flying by that time. With this new funding,\nPrecisionHawk is well positioned to support the next phase of unmanned aerial\nvehicle (UAV) deployments, driven by the need for improved technology that can\nensure quality and consistent data collection, maintain safe operations within\nthe United States\u2019 existing national airspace system, and organize and process\ndrone data to make it consumable, valuable and actionable.<\/p>\n\n\n\n
![\"\"](\"\/wp-content\/uploads\/PHInfrastructureDroneFlightedit.jpg\")
<\/figure><\/div>\n\n\n\n\u201cWe are excited to continue our support of PrecisionHawk\nduring this next phase of its growth. The feedback from customers has been very\npromising and we believe PrecisionHawk is well positioned to capitalize on the\nhuge market opportunity ahead of it,\u201d said Sam Schwerin, co-founder and\nManaging Partner of Millennium Technology Value Partners. \u201cPrecisionHawk\u2019s\npowerful PrecisionAnalytics software applies the latest generation of\nartificial intelligence to aerial data unlocking the data\u2019s potential to\naccelerate and optimize work for the enterprise.\u201d<\/p>\n\n\n\n
Since its founding in 2010, PrecisionHawk has led policy\nand technology development efforts to foster global adoption of commercial\ndrone technology. Michael Chasen was recently appointed by U.S. Secretary of\nTransportation Elaine Chao to serve as the Chairman for the Drone Advisory\nCommittee (DAC), a group established by the FAA to advise on key challenges and\nopportunities for drones in United States airspace.<\/p>\n\n\n\n
\u201cInvestments such as this one underscore the tremendous\npotential of the UAS industry to deliver new applications and services across\nbusiness sectors,\u201d said Brian Wynne, President and CEO of the Association for\nUnmanned Vehicle Systems International (AUVSI). \u201cThe demand for UAS technology\nis remarkable and demonstrates the great confidence investors have in a solid\nand growing market for years to come.\u201d<\/p>\n\n\n\n
PrecisionHawk will continue to lead the way, assisting\nregulators and encouraging industry participants to adopt innovative policies\nand technologies that can support not only today\u2019s drone use cases, but those\nof tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"
PrecisionHawk, Inc., today announced a $32 million investment from venture investors including Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others. The financing will fuel continued innovation in PrecisionHawk\u2019s software tool, PrecisionAnalytics that uses artificial intelligence\/machine learning, to help enterprises better utilize data collected by drones to solve business challenges. The financing […]<\/p>\n","protected":false},"author":3,"featured_media":14445,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[127],"tags":[],"class_list":["post-14443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-unmanned-systems"],"jetpack_featured_media_url":"https:\/\/stateaviationjournal.com\/wp-content\/uploads\/PHDroneFlightSoftwareedit.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/14443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=14443"}],"version-history":[{"count":2,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/14443\/revisions"}],"predecessor-version":[{"id":14448,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/14443\/revisions\/14448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media\/14445"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=14443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=14443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=14443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}