Software producer Microsoft led a $26m series B round for AirMap, the US-based developer of an airspace management system for drones, yesterday through its Microsoft Ventures subsidiary.
Microsoft was joined by e-commerce firm Rakuten, electronics manufacturer Sony, unmanned aerial vehicle producer Yuneec, aerospace company Airbus and chipmaker Qualcomm, the latter two investing through their Airbus Ventures and Qualcomm Ventures units respectively.
Venture capital firms General Catalyst and Lux Capital, both existing investors in AirMap, filled out the round.
AirMap has built a software platform that provides aerial drones with real-time airspace information and services, allowing them to fly safely at low altitudes. The funding will help it expand into new markets and was secured as it opens new offices in Germany and California.
Nagraj Kashyap, corporate vice-president of Microsoft Ventures, said: “AirMap is a leader in low-altitude airspace management, and will play a pivotal role in shaping the future of the drone industry.
“We are excited to support their growth and, by extension, the growth of commercial and recreational applications for both piloted and autonomous drones. We believe that by investing in companies like AirMap, Microsoft’s resources, platforms and AI technologies can help fuel the future of the drone ecosystem.”
AirMap has now raised $43.6m since it was founded in 2015. Lux Capital led its $2.6m seed round in July 2015, investing alongside Legend Star, a subsidiary of conglomerate Legend Holdings, as well as Social Capital, Bullpen Capital, TenOneTen Ventures and Haystack.
General Catalyst then led a $15m series A round for the company in April 2016 that also featured Social Capital, TenOneTen Ventures, Bullpen Capital and Pritzker Group.