AirMap Grabs $2.6M to Help Drone Operators Fly Only Where Welcome

AirMap Grabs $2.6M to Help Drone Operators Fly Only Where Welcome

Dow Jones Venturewire featured a profile of AirMap. Here are some excerpts:

“AirMap has raised a $2.6 million round of seed funding to grow its business and expand upon its airspace-mapping and data visualization system.

“The startup’s co-founders, Ben Marcus and Greg McNeal, said drone operators, commercial and recreational alike, actually want to comply with shifting regulations around the world, and to stay at peace with the people or institutions where drones aren’t welcome overhead, due to privacy, environment or other concerns.

“Besides keeping abreast of the shifting, regulatory landscape, and displaying off-limits areas on maps, the company maintains a “don’t fly over” registry to log the preferences of various private citizens, businesses and other organizations on the ground.

“Elementary schools or hospitals don’t want drones to pass overhead, for example, even in areas that may allow this legally, said Mr. McNeal.

“Lux Capital led the round and was joined by the Social+Capital Partnership, Bullpen Capital, TenOneTen Ventures , LegendStar, and Haystack.

“Lux Capital partner Bilal Zuberi said now that the drone industry has matured enough that drones are available for use by mainstream hobbyists and businesses, AirMap’s technology fulfills the “navigational needs” that will ensure the industry’s continued growth and success.

“With its funding, he expects AirMap to be able to build and market an “API management tool” and software development kit that allows drone manufacturers to integrate with their unmanned aerial vehicles. Lux Capital is an investor in one such drone maker, CyPhy Works Inc., and several other drone-tech startups.

“Ultimately, drone makers can use AirMap to give users custom maps overlaid with the latest data about where they can fly.

“Manufacturers can also use it to keep track of the places where operators are flying the devices they’ve made and to deliver warnings that may help them avoid bad PR and taking on liability risks should those operators fly afoul.

“Mr. Zuberi said that AirMap is similar, in spirit, to successful terrestrial map-tech companies such as MapBox that let developers configure maps specifically for use within their apps. But AirMap is tackling”airspace at or below 500 feet,” instead, he said.”

Continue reading at Venturewire.

By | 2017-02-09T01:18:59+00:00 July 28th, 2015|News, VC|