Drone 3D Mapping Software Receives Million Dollar Investment
April 19, 2023
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Propeller Aero, a company specializing in 3D mapping software for drones, has received a $15.3 million investment. With the new investment, the company will expand the Propeller 3D
Propeller Aero, a company specializing in 3D mapping software for drones, has received a $15.3 million investment. With the new investment, the company will expand the Propeller 3D mapping software with new features and create a “digital meeting place for teams.”
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Propeller is a 3D mapping software for drones with a mobile version. The resource is used at work and construction sites to collect data and help engineers, masons and other workers complete projects. ABOUT $15.3 million in financing is invested by the Australian Investment Fund Aware Super – Australia’s third largest pension fund, where people put money into a fund to collect royalties – from Canva founder Cliff Obrecht and entrepreneur Lee Jasper.
In a blog post, the company further explained the purpose of the acquired assets: “While our core product is drone mapping software, there is a new (smarter) collaboration workflow in the workplace that comes from combining survey and map data. “Recent funding will help us put more information on the map to create a digital meeting point for project teams.” The software will become more intuitive and integrated, the company says, creating a technology category called “intelligent search.”
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Australian investment fund Aware Super, which participated in the negotiation rounds, says it has made the decision to invest in the company because the construction industry does not have good enough data collection tools to avoid problems and complete projects efficiently. “Since our first meeting, we have been impressed with the work of the team and the vision they have set for themselves to become the absolute leader in the digitization of the construction industry,” the statement said.
Founded in 2014, Propeller Aero is an Australian drone manufacturing company with around 200 employees. According to the company’s own data, the Propeller software is used by approximately 15,000 jobs worldwide every month. With 3D mapping software, the company is using drones to help map and complete projects, accurately collecting data and offering an interface that can be accessed on a computer or smartphone.
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