Startup Drone Makers Are Finding Record Amounts Of Funding

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Startup Drone Makers Are Finding Record Amounts Of Funding

On June 17th, 2015, Congress told the FAA “that final regulations for business use of drones would be done by mid-2016” and that has more than one venture capitalist excited. The allure of a what may potentially become a $82 billion industry that is projected to create 70,000 new jobs before 2019 is drawing in record amounts of funding.

From Silicon Valley to New York, firms including Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners and ff Venture Capital are lining up behind unmanned aerial vehicle companies. Google Inc., General Electric Co. and Qualcomm Inc. also are jumping in with cash.

“Everybody wants to invest in drones because they’re seeing not only the potential but actual results right now,” said Jon Ollwerther, vice president of marketing and operations at drone builder AeroCine, which operates from a waterfront Brooklyn warehouse with a view of the Statue of Liberty. “We have said no to money.”

There’s more than ever to go around. Investors have pumped $210 million into businesses like SZ DJI Technology Co. and DroneDeploy so far in 2015, almost double the total for all of last year, according to data compiler CrunchBase. The pace has quickened as U.S. regulators grant more exemptions for limited commercial operations, reassuring financial backers that they’ll see a payoff from their support.

Drone Startups Grab Record Cash as Kleiner, FF Venture Seek Wins

By | 2017-08-31T15:24:59+00:00 June 22nd, 2015|Drone Investing, Drone Startups, Drones, New Drones|Comments Off on Startup Drone Makers Are Finding Record Amounts Of Funding

About the Author:

Michael Robbins
Mr. Michael Robbins, who resides in Northern California, is our drone tech expert with over 30 years of experience. He started his career building gas powered UAVs at age 12. He has since earned a Bachelor's of Science degree in Design and Engineering and is AutoCAD certified. He has worked with the Monterey Bay Aquarium, Animal Planet, Travel Channel, Hearst Castle, CNN, Adobe, Oracle, HP, Cisco Systems, Discovery Channel, National Geographic and NASA. With a passion for aviation, Mr. Robbins spends his spare time studying for his Commercial Pilot’s License.