Raleigh, North Carolina, USA
April 26, 2016
DuPont joins an investor group that includes Intel Capital, Verizon Ventures, Yamaha Motor, USAA, NTT Docomo, Millennium Technology Value Partners and the Innovate Indiana Fund
PrecisionHawk – a leading provider of aerial data and safety platforms for drones – announced today that DuPont has joined its previously announced round of series C funding. As a top provider of drones and drone data tools for the agricultural market, PrecisionHawk has been providing its tools and services to DuPont as a customer for a number of years. This collaboration will work to accelerate the commercial use of drones and build the tools that matter for agriculture.
“At DuPont Pioneer, we’re driving a new era of agriculture productivity that enables farmers to increase profitability and sustainability through data-driven insights,” said Neal Gutterson, DuPont Pioneer Vice President of Research & Development. “The deepening of our relationship with PrecisionHawk is an important part of the Pioneer digital agriculture platform strategy, as well as our Encirca℠ services offering. Our goal is to provide growers valuable prediction-based product placement insights by incorporating elite genetics, agronomic management and environmental variation analysis into our already successful prediction-based breeding program.”
This investment, brings PrecisionHawk’s total funding to more than $30 million to continue product innovation and global expansion of the company’s terrestrial data services, DataMapper and low-altitude safety infrastructure, LATAS.
Both DuPont and PrecisionHawk recognize the opportunity for drone technology solutions in agriculture. Previous analyst reports have estimated this economic impact to exceed $60B over the next 10 years.
“Working with an influential client like DuPont, we immediately saw the value that has yet to be unlocked for aerial data analysis in agriculture,” said Christopher Dean, President of PrecisionHawk. “With investors now representing the agriculture, insurance, and telecommunication industries, PrecisionHawk is well positioned to understand the nuance that will help us create unique value for all of our commercial partners.”
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