AI drone fleet co vHive raises $5.5m

Drone Photo: Reuters

Israeli AI firm vHive introduced in the present day the completion of a $5.5 million financing spherical led by Octopus Ventures, with participation from current traders StageOne Ventures and personal traders. vHive has developed a software program answer that permits enterprises to digitize their discipline property and operations utilizing autonomous drone hives.

This funding will help vHive’s mission to broaden its buyer base and speed up development in addition to to additional develop its know-how management. Zoe Chambers of Octopus Ventures has joined the Herzliya-based firm’s board.

Based in 2016 by CEO Yariv Geller and Tomer Daniel, vHive’s mission is to be a trusted accomplice that permits enterprises to digitally remodel by capturing information from the sphere and making use of analytics to generate higher actionable enterprise insights. Utilizing autonomous drone hives, enterprises drive their operational efficiencies and generate new income alternatives.

Since its seed funding, vHive has attracted Fortune 500 corporations who use its software program platform throughout quite a lot of industries and geographies. The corporate has enabled its prospects to conduct 1000’s of drone surveys in industries corresponding to cell towers, development, insurance coverage and rail.

Geller stated, “Enterprises are utilizing vHive’s software program to allow non-expert discipline workers to deploy autonomous off-the-shelf drones to digitize their discipline property and operations. vHive’s answer handles missions of any scale or form, bringing innovation to quite a lot of industries. This funding accelerates vHive’s buyer base enlargement in our present sectors of exercise. We additionally plan to additional develop our know-how management, offering probably the most scalable, but straightforward to make use of answer within the trade.”

Chambers stated, “Because the telco and development industries drive in the direction of digital transformation, we agree with among the world’s largest enterprises, that the longer term lies in a software program answer which permits huge quantities of knowledge to be effectively acquired at scale. The vHive platform orchestrates a number of autonomous drones utilizing off-the-shelf {hardware} to ship a wealthy and correct overview of discipline property. Uniquely, it does this with out requiring skilled pilots and in a workflow which can be utilized throughout the enterprise. We consider that their cutting-edge know-how will enable vHive to take care of its management on this area and additional capitalize on alternatives with among the world’s largest enterprises.”

StageOne Ventures accomplice and managing director Yoav Samet stated, “Once we first assessed vHive, we had been very impressed that the founders had already demonstrated, earlier than the seed funding, an progressive software program answer that enabled enterprises to digitize their giant and sophisticated discipline property and operations by utilizing a number of autonomous drones. Since our seed funding, vHive has proved its distinctive worth to a number of industries and distinguished enterprises and is continuous to develop cutting-edge applied sciences that create worth for its prospects. This funding spherical will allow the corporate to deepen its AI capabilities and broaden into new industries.”

Revealed by Globes, Israel enterprise information – – on September 11, 2019

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