SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

CHANNEL BY TOPICS


QUICK LINKS




Wheelings & Dealings: Survey Drone Maker PrecisionHawk Receives $10M in New Round of Funding

TMCnet Feature

September 23, 2014

Wheelings & Dealings: Survey Drone Maker PrecisionHawk Receives $10M in New Round of Funding

Share
Tweet
By Frank Griffin
TMCnet Contributing Writer

When we hear the word “drone,” most people associate it with military applications, or the Super Bowl commercial in which Jeff Bezos introduces the possibility of using these machines to deliver packages around the country. Although many people scoffed at the idea Amazon’s CEO proposed, since that time more companies have been devising ways of using drone technology. PrecisionHawk, producer of unmanned aerial vehicles (UAV) or drones, announced it has received $10 million in the second round of institutional funding to increase its presence in the market place.


This round of funding was led by Millennium Technology Value Partners and additional participation from RedHat co-founder Bob Young, and The Innovate Indiana Fund. The seed funding for the company, which was founded by Ernest Earon and Christopher Dean in 2010, was made by Bob Young and The Innovate Indiana Fund for $1 million.

Unlike other drones with limited capabilities, PrecisionHawk outfits its vehicles with sensors and cameras that collect data for land survey. The company provides more than a dozen different sensors so customers can choose the right technology for their specific application. If the company doesn’t have the right sensor, customers can place their own device on the drone.

The company specializes in collecting data and providing analytics solutions so customers can gain valuable insights about the location that was surveyed. By deploying these drones with multiple sensors, the company offers a wide range of use cases in which organizations across different industries can deploy an affordable solution for surveying large plots of land at a fraction of the cost of airplanes, helicopters or automobiles.

The company has formed a new partnership with Texas A&M to explore future applications of its product. This includes ensuring the FAA and other regulatory bodies have a clear understanding of how this technology can be applied to deliver economical solutions for public and private organizations.

The PrecisionHawk Lancaster platform has a 600 Mhz CPU with Linux OS embedded processing with interfaces for Wi-Fi, Ethernet, Bluetooth, serial, USB, digital, analog and IIC. Weighing in at only three pounds and a wingspan of four feet, it can carry a load of 2.2 pounds that can be swapped with different types of sensors and technologies.

The artificial intelligence on the plane is able to make in-the-air flight path calculations using the company's proprietary AI to detect weather conditions and create its own optimal flight path without having to land. The plane's ability to make data assessment while it is in the air allows it to collect information while in flight and make the necessary adjustments to ensure and eliminate multiple takeoffs. This includes continual monitoring of battery life, operational weather/wind limitations, structure cracks, fatigue analysis and other internal performance checks.

Using its high-definition video streaming via internet connection through its cloud service, PrecisionHawk offers live feeds, which can be applied to monitor events, emergency situations and surveillance.

The company sees this device being applied towards search and rescue, law enforcement application, chemical spills, forest firefighting and management, chemical fires, traffic accident analysis, earthquake mapping, oil industry leak monitoring, ship collisions and many more.




Edited by Alisen Downey


View all articles


Comments powered by Disqus








Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: [email protected].
Comments about this site: [email protected].

STAY CURRENT YOUR WAY

© 2024 Technology Marketing Corporation. All rights reserved | Privacy Policy