An early player in drone-tech, 3D Robotics, Inc.on Thursday announced that it has raised $53 million in a Series D round of funding, including new equity funding and conversion of debt equity. Atlantic Bridge led the round, joined by Autodesk Forge Fund, True Ventures, Foundry Group, Mayfield and other undisclosed investors, according to the company statement.
The company didnt break out how much new capitalit saw coming in the door in this round. We reached out for more information. But for now, its hard to ascertain how much runway the Series D investment gives 3DR, which is attempting a major metamorphosis.
Since about 2015, 3DR has been working to turn its business into a competitive enterprise software player. Its competition today is more about Drone Deployor Airware than DJI or Parrot. That wasnt the original plan, of course.
In 2009, 3DR started off selling drone components to the DIY set. It later launched a consumer drone, the Solo, built withopen-source architecture. But it halted production of those in 2015 after challenges controlling quality and manufacturing costs, and predicting demand, among other things.
Chris Anderson, the companys CEO and founder (formerly the editor in chief of Wired) then turned his focus to the commercial and industrial drone market. He saw the Part 107 regulations taking shape in the U.S. as a market-driver that would usher in the use of drones in day-to-day operations on farms, construction sites and more.
Now, the company sells its Site Scan product as its flagship. Site Scan is primarilysoftware-as-a-service that enables drone users to precisely control their flightsand on-boardcameras, then send data straight from those to the cloud.
3DR promises Site Scan users integration with Autodesks BIM, or building information modeling tools. Autodesk invested in 3DR back in 2016 when it launched its Forge Fund. It also serves as a channel partner for 3DR, helping the born-again startup make inroads into the massive construction market.
Today, 3DRsSite Scan lets users overlay the high-res imagery and data that they have captured via drones with site-plan information stored in Autodesks BIM, or use those images in conjunction with geographic information services like Esri. Overlaying this data gives contractors, structural engineers and architects a way to quickly and visually identify potential problems and avoid building delays.
Weve reached out to3DR and some of its investorsfor more information about what the companywill do given its new funding, and the health of its business today; these sources were not immediately available for comment.
According to the company statement published Thursday, 3DR plans toinvest its capital in building out Site Scan and marketing it within construction and engineering industries.