PrecisionHawk Raises $32 Million More

North Carolina-based drone services company PrecisionHawk has raised an additional $32 million investment to finance continuing development of its PrecisionAnalytics artificial intelligence software tool that uses UAS data collected for business. Investors include Millennium Technology Value Partners, Third Point Ventures, and Eastward Capital Partners. Altogether the company has raised more than $130 million to date. 

Its clients include five of the top 10 utility companies, the largest provider of communications infrastructure in the U.S., and the “big six” providers of seed and agricultural chemicals. PrecisionHawk’s technology is used for diverse missions, including managing asset inventory, measuring the health of telecommunications towers and electricity distribution lines, and crop assessment.

“Our unique software and services deliver incredible value to our customers, equipping them with the highest level of aerial intelligence to meet their current and future asset management and operating needs,” said CEO Michael Chasen. Chasen was recently appointed to serve as chairman of the drone advisory committee (DAC), a group established to advise the FAA on drone operations in U.S. airspace.