DroneBase, a Los Angeles-based drone services provider, has raised $7.5 million in a series C round of funding from a host of big-name investors, including Chinese drone giant DJI, Valor Equity Partners, and Union Square Ventures. 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 five-fold 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.
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DroneBase raises $7.5 million as demand for commercial drones surges
DroneBase, a Los Angeles-based drone services provider, has raised $7.5 million in a series C round of funding from a host of big-name investors, including Chinese drone giant DJI, Valor Equity Partners, and Union Square Ventures.
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