3D Robotics secures $53M in latest funding round

Dive Brief:

3D Robotics has scored $53 million in a Series D funding round that includes new equity funding and debt equity conversion, according to TechCrunch. The round was led by Atlantic Bridge and also included Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield and a number of undisclosed investors.
The drone data company, based in Berkeley, CA, plans to funnel its capital into expanding its flagship product, Site Scan, and marketing the technology within the construction and engineering sectors.
3DR, which launched in 2012, has aimed to make its business a competitive enterprise software contender, eyeing companies like Drone Deploy and Airware as its primary competitors.

Dive Insight:

3DR aims to expand its presence on the national drone stage as it targets the growing market for drones in the construction and engineering industries. A 2016 report from the Association for Unmanned Vehicle Systems International found that the construction and infrastructure sectors account for two of the biggest drone users across all industries.

Additionally, estimates from PricewaterhouseCoopers slate drone-powered labor sources for infrastructure alone at a market value of $45.2 billion — and 3DR is looking to tap into that space. In March 2016, the company announced Site Scan, its collaboration with Autodesk and Sony that allows for drone collection of job-site data and the processing of that data through a single platform.

These data collection and processing practices are set to become more influential in all aspects of the job site, with more firms choosing third-party service providers to gather visual information for topographical mapping and data analysis. For construction professionals, this data can mean an easier, more efficient option for determining a project's potential for error, measuring its adherence to schedule and estimating costs.

Experts say the demand for drones is already widespread — the next step is to find a more seamless path for firms to integrate the technology on the job site, and improve solutions for breaking down the data in a manageable way.