Behind Joby Aviation came PrecisionHawk, which raised $75 million in January 2018 to “build upon its lead” in the commercial drone space by expanding its team, developing its products, and making “strategic acquisitions,” according to a statement.
At the end of 2018, DJI announced it had selected PrecisionHawk as its new provider of airspace data in North America, replacing former provider AirMap.
Other notable funding rounds went to Skydio ($42 million), which designs ultra-flashy, sensor-covered drones that can be operated without a control, Israeli industrial dronemaker Airobotics ($40 million) drone entertainment company Verity Studios ($18 million), which put on the drone scene in Cirque du Soleil, drone delivery company Matternet ($16 million), and teen-helmed consumer drone maker Teal ($11 million).
DRONEII’s report also quells fears that the drone industry could be seeing a slowdown, particularly some major news shocked many in the drone industry last year.
But instead, the report found that a total of $702 million was invested into the drone industry in 2018, which is actually up from $625 million in 2017.