Israel-based autonomous drone software company vHive has scooped up $25 million in Series B funding to digitize enterprise assets and expand operations globally. vHive’s drone-agnostic solution enables readily-available commercial, off-the-shelf drones to follow flight paths autonomously and inspect field assets, such as cell towers, with uncanny precision to build accurate digital twins.
Arguably, the company’s biggest 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 should be able to replace equipment easily and scale quickly, when required, without worrying about hardware production issues or the availability of a specific drone model.
vHive also points out that while new versions of hardware require significant time and manufacturing effort, software can be updated far more quickly and easily to adapt to evolving customer needs.
Essentially, vHive is promising consistent, accurate data across enterprise assets, irrespective of the skill level of the individual pilot or the type of asset surveyed. And that’s because its drone software platform has been designed with a deep understanding of the industry it serves which was telecommunications to begin with, but now includes construction, cranes, and insurance too.
While planning a mission, the software asks for minimal information about your subject of interest. The data acquisition plan it then churns out consists of various image capture locations, altitudes, and angles – all while taking into account the specific drones to be used and their sensors.
The company is confident 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 at PSG – the growth equity firm leading vHive’s Series B funding round. Here’s Nir:
vHive’s solutions for capturing and digitizing physical assets have enabled the company to build a reputation as a strong partner of choice for top-tier enterprises going through digital transformation – a global trend that is sweeping through multiple industries. Its customers can experience measurable success using vHive’s solution, impacting their operations and workflows. We have been impressed with the company’s rapid growth and are excited to propel it to the next level.