vHive raises $25M to boost asset digitization with autonomous drone hives
Israeli autonomous drone software company vHive has raised $25 million in Series B funding to digitize company assets and expand operations globally. vHive’s drone-agnostic solution enables off-the-shelf commercial drones to autonomously track flight paths and inspect field assets, such as cell towers, with astonishing accuracy to create digital twins precise.
Arguably, the company’s greatest strength lies in negating the need for autonomous drone hardware. vHive says it doesn’t want users to become dependent on a single drone manufacturer. Its customers need to be able to easily replace equipment and scale quickly, if needed, without worrying about hardware production issues or the availability of a specific drone model.
vHive also points out that while new hardware releases require significant manufacturing time and effort, software can be updated much more quickly and easily to accommodate changing customer needs.
Essentially, vHive promises consistent and accurate enterprise asset data, regardless of the skill level of the individual pilot or the type of asset being investigated. And that’s because its drone software platform was built with a deep understanding of the industry it serves, which was telecom initially, but now also includes construction, cranes, and insurance.
When planning a mission, the software asks for minimal information about your subject of interest. The data acquisition plan he then develops consists of various image capture locations, altitudes, and angles, while considering the specific drones to be used and their sensors.
The company is confident that its competitors cannot replicate the powerful AI and computer vision algorithms that power its autonomous drone software. And it’s a sentiment echoed by Ronen Nir, managing director of PSG – the growth capital firm leading vHive’s Series B funding round. Here is Nir:
vHive’s solutions for capturing and digitizing physical assets have helped the company build a reputation as a strong partner of choice for leading companies going through digital transformation – a global trend sweeping across many industries. Its customers can experience measurable success using vHive’s solution, which impacts their operations and workflows. We have been impressed with the rapid growth of the business and are excited to take it to the next level.
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