DroneBase Obtains New Capital Worth $7.5 Million to Enable Growth in RE Data Analysis

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.

June 19, 2020. By News Bureau

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DroneBase has announced it has announced that 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.

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.

“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.”

Jamie Mordarski, Director of Operations and Maintenance, Americas at SMA, added that the ability of DroneBase to provide 100 percent asset coverage using ground-based systems, drones, and manned aircraft gives them a tremendous competitive advantage and that SMA looks forward to growing its partnership with the company as its portfolio grows.

In spite of the global COVID pandemic, DroneBase has sustained 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.

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