METS

Propeller gets lift with new fund-raising

Blackbird Ventures and Sequoia China join Silicon Valley investors in backing Oz company

Staff reporter
 Propeller Aerobotics quarry survey. Drones creating a bigger buzz around mines

Propeller Aerobotics quarry survey. Drones creating a bigger buzz around mines

Established in 2014 by Sydney software engineers and ‘drone pilots' Francis Vierboom and Rory San Miguel with strong Silicon Valley investor support, Propeller is seeing the bulk of current new growth coming from the US market.

Big California-based competitors such as Kespry and Airware have completed private equity raisings orders of magnitude larger than Propeller's in recent years.

The latter reportedly wants to double its US staffing level over the next year.

Propeller has forged international distribution partnerships with Denver-based survey technology group Trimble Navigation, and consumer drone manufacturer DJI.

The new $10 million Series A funding brings Propeller's total funding to $14 million since launching.

"We're delighted to be able to fuel the journey of Propeller in a more substantial way, right at the time drones are reshaping the way the industrial world conducts every aspect of their business," Blackbird partner Niki Scevak said.

"Propeller is growing among the fastest of any company we have seen and we are so excited for the future."

Propeller's San Miguel said the construction and mining industries were "starting to see how powerful drone-mapping and analytics tools really are".

"They're quickly becoming the industry standard," he said.

"The new financial support will help us expand our team, move into new markets, and execute our vision faster and more broadly."

Vierboom said drones were "making a difference in trillion-dollar global sectors".

"We've seen cloud-based tools transform other industries, but before Propeller there were limited options for worksites," he said.

"Propeller brought cloud-based tools to tablets on sites around the globe. They're seeing fewer disputes, mistakes, and lower reporting overheads. It's exciting to see drone technology empower our customers and produce better project outcomes."

Widespread recent adoption of drones in mining to aid surface volumetric calculations and general mapping is being supplemented increasingly by more complex asset inspection and reporting tasks, and by underground activities.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.