The company is also launching a new European business unit and expanding to target the renewable energy industry as it seeks to capitalize on “month

DroneBase raises $7.5 million as demand for commercial drones picks up

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2020-06-26 13:10:34

The company is also launching a new European business unit and expanding to target the renewable energy industry as it seeks to capitalize on “months of record-setting revenue” during the COVID-19 crisis.

The commercial drone market was already accelerating, with reports the industry would grow more than fivefold by 2026 from the $1.2 billion it was reportedly worth in 2018. But the pandemic has increased demand for drone services in areas such as medical supply deliveries and site inspections. Earlier this week, Honeywell, a major supplier of aerospace systems, launched a new business unit covering drones, air taxis, and unmanned cargo delivery vehicles.

Founded in 2014, DroneBase provides access to drones and professional operators who can capture aerial imagery and videos for industries ranging from construction to real estate and insurance. The ability to procure visual data from the skies was historically limited to those with deep pockets, but aviation rules passed by the U.S. Federal Aviation Administration (FAA) in 2016 opened drones up for commercial use, enabling companies like DroneBase to flourish.

While planes and satellites can be used to capture aerial imagery, companies can dispatch drones to snap up-to-date shots of a very specific site from any angle. DroneBase’s product extends beyond simple image capture and into actionable insights — the company can also produce an AI-enhanced report of any commercial property, covering things like roof measurement analysis.