“Adoption of UAV technology amongst major industries is growing at an incredible rate,” said Dave Famolari, director of Verizon Ventures. “I believe that PrecisionHawk’s high resolution aerial data capture, analysis and storage platform, https://www.datamapper.com, can deliver unique insights and actionable data that can improve critical decision making across several industries.”
Another area of focus for 2016 is the development and commercialization of PrecisionHawk’s low-altitude traffic and airspace safety platform, LATAS, to allow safe and rapid integration of drones into national airspaces. To date, LATAS has won contracts with both state and international governments and has been successfully demonstrated over Verizon’s LTE network under the FAA Pathfinder and NASA UTM programs.
“The company’s LATAS initiative promises to be a key component to safely integrate drones into our national airspace and expand the potential applications for drone technology. We look forward to building our relationship with PrecisionHawk as it continues to innovate and expand into new industries and geographies,” Famolari said.
“Individuals and organizations across the world need better and more accurate data to manage the resources of our planet, and we are delighted to receive such a strong level of support and confidence from this group of investors to help us build out a platform for the industry,” said PrecisionHawk CEO Bob Young. “This team of partners and investors is collaborating to better serve the need for managing terrestrial change data. Providing a safe and reliable platform for managing aerial data is both an exciting and important project for our engineers and our partners.”
PrecisionHawk's Algorithm Marketplace, http://media.precisionhawk.com/topic/algorithm-marketplace, provides automated analysis of aerial data acquired by UAVs. Using sophisticated algorithms, drone operators no longer need a background in geographic information system (GIS) or remote sensing to interpret their aerial data, instead, the marketplace provides an action-based report to improve management of assets. Over 40 university and corporate partners including Texas A&M and Mississippi State University are providing analysis products for the marketplace. Additionally, PrecisionHawk’s acquisition of satellite data provider TerraServer will allow marketplace users to link satellite and drone data to observe change over time.