The emerging commercial drone services marketplace received a major boost as Washington DC-based Measure UAS announced a $15 million investment into their company by from Cognizant Technology Solutions, with participation from existing investors.
This investment round is in addition to the $5 million it raised back in September 2015. Measure claims the fresh cash injection will be used to expand the company’s services and target new customers.
“This is a tremendous moment for Measure and for the drone industry, and we believe 2017 is when everyone pivots toward services,” said Brandon Torres Declet, CEO of Measure. “Not only will this investment make it possible to expand to new customers, but the addition of Cognizant can help us offer new, innovative services around data analysis not currently available in the market.”
While drone manufacturers have stuttered, staggered, and sometimes shuttered in recent weeks, the list of drone services companies like Measure raising funding continues to accelerate, according to VentureBeat.
In August, California-based Prenav raised $6.5 million to develop a commercial drone system for companies to inspect and maintain physical infrastructure -- including buildings, roofs, cell phone towers, and other hard-to-access places. But it’s not just about aerial drones. Saildrone, another California start-up raised $14 million to expand its fleet of wind-powered autonomous seafaring drones that collect data from the world’s oceans.
Elsewhere, San Francisco-based DroneDeploy recently nabbed $20 million for its software-as-a-service platform that helps businesses analyze and make sense of their aerial drone data. Finally, Santa Monica’s DroneBase raised around $7 million last year to grow its platform that lets drone owners sell footage they capture to businesses. "This most recent funding raise by Measure is a clear indication that the drone services business model is gaining a great deal of traction," says Christopher Todd, Founder and CEO of Airborne Response and a former technology analyst with New York-based Jupiter Research. "The current regulatory landscape makes it extremely challenging for companies to operate effectively in the commercial UAS services space. Operators with specific expertise like Measure and Airborne Response are needed to carve the path forward."