Airware, a US-based unmanned aerial vehicle (UAV) technology producer backed by technology and internet conglomerate Alphabet, industrial product maker General Electric and semiconductor manufacturer Intel, raised $30m in series C funding yesterday.
Next World Capital led the round, which included contributions from fellow venture capital firms Andreessen Horowitz and Kleiner Perkins Caufield & Byers (KPCB), and John Chambers, the executive chairman of networking technology provider Cisco.
Founded in 2011, Airware has built an operating system for commercial drones called the Aerial Information Platform which enables companies to integrate autonomously collected aerial data into their data management operations.
The platform also helps businesses comply with civil aviation regulations, insurance requirements and their own internal rules. In addition to drone management software, the company has also branched out into manufacturing its own UAVs.
Airware revealed the series C round at the same time as a partnership with insurance company State Farm that will cover rooftop inspections, underwriting, and disaster response.
GV, the Alphabet subsidiary then known as Google Ventures, initially took part in Airware’s $3m seed round in March 2013, investing alongside First Round Capital, RRE Ventures, Firelake Capital, Shasta Ventures, Promous Ventures and Y Combinator.
Airware raised $10.7m in a Google Ventures-backed round two months later before closing a $25m series B round featuring KPCB, Andreessen Horowitz and First Round in July 2014.
GE Ventures, General Electric’s corporate venturing arm, invested an undisclosed amount in the company in November 2014 before Intel did the same in April 2015 through its Intel Capital subsidiary.
– Photo courtesy of Airware