Just in:
Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // German Job Market Resilience Bodes Well for Economic Recovery // Universal Language for Healthcare: General Authority Embraces Global Coding System // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Andertoons by Mark Anderson for Thu, 28 Mar 2024 // Emirates Post Speeds Up Deliveries for GCC with Special Day // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // Global Audience to Witness Thrill of Dubai World Cup // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Ingdan Announces 2023 Annual Results // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony //
HomeWhat's OnInvestors are betting 3DR can find life after Solo as a drone data platform

Investors are betting 3DR can find life after Solo as a drone data platform

1493365416 3dr stock seriesd


An early player in drone-tech, 3D Robotics Inc., announced that it has raised $53 million in a Series D round of funding on Thursday, including new equity funding and conversion of debt equity. Atlantic Bridge led the round joined by Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield and other undisclosed investors, according to the company statement.

ADVERTISEMENT

The company didn’t break out how much new capital it saw coming in the door in this round. We reached out for more information. But for now, it’s hard to ascertain how much runway the Series D investment gives 3DR, which is attempting a major metamorphosis.

Since about 2015, 3DR has been working to turn its business into a competitive enterprise software player. Its competition today is more about Drone Deploy or Airware than DJI or Parrot. That wasn’t the original plan, of course.

In 2009, 3DR started off selling drone components to the DIY set. It later launched a consumer drone, the Solo, built with open source architecture. But it halted production of those in 2015 after challenges controlling quality, manufacturing costs, and predicting demand, among other things.

Chris Anderson, the company’s CEO and founder (formerly the editor in chief of Wired) then turned his focus to the commercial and industrial drone market. He saw the Part 107 regulations taking shape in the US that would usher in the use of drones in day-to-day operations on farms, construction sites and more.

Now, the company sells its Site Scan product as its flagship. Site Scan is primarily software-as-a-service that enables drone users to precisely control their flights and on-board cameras, then send data straight from those to the cloud.

3DR promises Site Scan users integration with Autodesk’s BIM, or building information modeling tools. Autodesk invested in 3DR back in 2016 when it launched its Forge Fund. It also serves as a channel partner for 3DR,  helping the born-again startup make inroads into the massive construction market.

Today, 3DR’s Site Scan lets users overlay the high-res imagery and data that they have captured via drones with site plan information stored in Autodesk’s BIM, or use those images in conjunction with geographic information services like Esri. Overlaying this data gives contractors, structural engineers and architects a way to quickly and visually identify potential problems, and avoid building delays.

We’ve reached out to 3DR and some of its investors for more information about what the company will do given its new funding, and the health of its business today. But these sources were not immediately available for comment.

According to the company statement published Thursday, 3DR plans to invest its capital in building out Site Scan and marketing it within construction and engineering industries.

Featured Image: 3D Robotics Inc.

Via ASDA Alltop

ADVERTISEMENT

ADVERTISEMENT
Just in:
Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // Experts come together to support updating the city’s nature conservation masterplan // German Job Market Resilience Bodes Well for Economic Recovery // Renewables Surge Sets Record, But Global Equity Lags // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Emirates Post Speeds Up Deliveries for GCC with Special Day // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // Emirati Aid Reaches Ukraine as Food Shortages Bite // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Sunshine’s Debut Features Leave Tech World Scratching Its Head // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // Universal Language for Healthcare: General Authority Embraces Global Coding System // Ingdan Announces 2023 Annual Results // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // US reiterates concern over Kejriwal arrest, Cong accounts // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress //