AirMap, a US-based developer of airspace management tools for drones that is backed by conglomerate Legend Holdings, has raised $15m in a series A round led by venture capital firm General Catalyst Partners.
The round also included Lux Capital, Social+Capital Partnership, TenOneTen Ventures, Bullpen Capital and Pritzker Group.
Founded in 2015, AirMap’s technology provides navigational data and communication tools for drones operating below 500 feet. The technology enables the designation of no-fly zones, such as US national parks, and can be used to establish safe flight paths for delivery drones.
AirMap is already collaborating with more than 50 large airports across the US and will use the money to further accelerate development of its technology.
The company had already secured $2.6m in a July 2015 seed round backed by Legend Star, an investment subsidiary of Legend Holdings. The round was led by Lux Capital and also featured Social+Capital, Bullpen, TenOneTen and Haystack.
Hemant Taneja, managing director of General Catalyst Partners, said: “People will soon be benefiting from drone-enabled services in their everyday lives, often without even realising it.
“AirMap is building the trusted infrastructure to support the mainstream drone use cases that we will all soon take for granted.”