‘Uber for drones’: Aerologix announces capital raise. Image: Getty.
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Special Report: Australian drone technology start-up Aerologix will use a fresh capital injection to escalate its aggressive global expansion and to launch a new mapping solution via its acquisition of global mapping software company Mappa.
Aerologix, often referred to as the “Uber for drones,” was founded in 2019, by ex-airline pilot Tom Caska and former technology consultant Rakesh Routhu. The company’s unique platform connects drone operators with clients that need aerial imaging services. Over the past three years, Aerologix has successfully onboarded more than 29,000 drone pilots across Australian and New Zealand.
In September, the US Federal Aviation Authority granted the first licences for unmanned commercial aircraft to fly well beyond the sight of a pilot (BVLoS), a move seen by many as a catalyst for mainstream drone use there and following widespread industry criticism that regulatory developments were lagging behind the technology.
Aerologix’s technology supports 135 different drone types, catering to diverse industries including renewable energy, construction, real estate and infrastructure and Tom Caska says the opportunity in the US for the company is enormous.
“The FAA has recognised the proven ability of drones to offer a quieter, cleaner, cheaper option to manned aircraft,” he said.
“These waivers set a precedent for other drone companies to receive expedited BVLoS approval and, off the back of that, we expect to see the number of jobs for drones and pilots wanting to do those jobs with their own drones in the US increase rapidly.”
Aerologix’s $2 million raise was led by Lindsay Phillips’s Nightingale Partners which doubled down on earlier seed investments. The funds will be used primarily for the acquisition of Mappa which specialises in transforming drone data into high-resolution maps. Mappa’s cutting-edge technology will be integrated into Aerologix’s offering, officially launching as “AerologixMaps” on a global scale today.
Co-founder and COO Rakesh Routhu says Mappa’s technology perfectly complements the company’s vision of building a comprehensive global drone ecosystem.
“Mappa was the missing piece in our plan to build a comprehensive global drone ecosystem. This acquisition not only supercharges our growth in South and North America but also provides a platform for a Software as a Service (SaaS) model, along with additional revenue streams derived from monetising our extensive drone pilot network,” Routhu said.
Co-founder and CEO Tom Caska said interest in the AerologixMaps offering from within the company’s network was enormous.
“A simple, affordable way of making maps is a real value-add for our customers and we already have more than 175 pilots on the waitlist,” said Caska.
“AerologixMaps also allows us to establish drone pilot networks abroad without having to set up offices in every country. When and if we do set up our platform of drone pilot networks in international markets, we will have the correct data to do so. Once again, this gives us a strategic advantage over competitors,” he said.
Aerologix is one of a handful of drone companies onboarded into the Civil Aviation Safety Authority (CASA) digital sky platform, meaning both its Aerologix iOS and android apps ingest CASA weather updates, location-based information and maps that show where pilots can and can’t fly. They’ve even teamed up with Clean Up Australia Day to tackle the country’s waste challenges.
This article was developed in collaboration with Aerologix, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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