Australian analytics startup Propeller Aero has secured $10 million in a Series A funding round led by venture capital firm Blackbird Ventures and joined by Sequoia China as well as existing major investors, according to a company announcement.
Propeller offers cloud-based drone analytics solutions that visualizes drone survey data to help measure and manage mining, quarries and construction sites.
With this round, the total funding raised by Propeller stands at $14 million since its launch in 2014.
The funds will be used to for team and market expansion and product development.
“The construction and mining industries are starting to see how powerful drone-mapping and analytics tools really are—they’re quickly becoming the industry standard,” said Propeller co-CEO and co-founder Rory San Miguel.
In the past 12 months, Propeller had set up an office in Denver, North America and partnered with positioning technology solutions provider Trimble Inc. The startup had also partnered with Chinese drone manufacturer DJI in 2016 for an integrated solution for site surveying and inspection.
The investment, Blackbird Ventures partner Niki Scevak said, comes “right at the time [when] drones are reshaping the way the industrial world conducts every aspect of their business.”