When a drone can deliver a burrito to a hungry college student, it’s no longer just a novel technology but a major innovation for businesses.
Still, the commercial drone business in the United States is in its infancy with rules and regulations just being worked out. This summer, the Department of Transportation’s Federal Aviation Administration finalized rules for the commercial use of drones.
That’s a major boost for Austin-based software company, Hangar Technology which just announced $6.5 million in seed financing to develop its data capturing software focused on drone technology.
Hangar Technology will give companies aerial data using its software and drone technology.
Colin Guinn, former CRO of 3D Robotics (3DR) and CEO of DJI North America and Jeffrey DeCoux, founder and CEO of eCustomers and SMART technologies, founded Hangar.
“We’ve spent the last six years deeply involved in the major transformative hardware innovations of the consumer and professional drone industry, and it’s exciting to take the opportunities we’ve seen for the future and form a company with an entirely new vision for the industry,” Guinn, president of Hangar said in a news release. “I’ve watched drone technology advance at a breakneck pace like no other product before it. These consumer-friendly products now have multiple computers, an autopilot, 4k cameras, long-range video links, sensors and more and only costs $500-$999. Harnessing that technology is an unparalleled opportunity across industry. ‘Consumer’ drones have become so advanced that no human can fully maximize and capitalize on their capabilities – it’s time for software to automate and optimize data capture from these devices.”
Lux Capital, which counts a number of well-known companies in satellite, drone and robotics technology in its portfolio that complement Hangar, led the financing. Bilal Zuberi, partner at Lux Capital, will join Hangar’s Board of Directors as a part of this financing.
Fontinalis Partners, which specializes in investing in technologies related to next-generation mobility, also participated in the round, along with Haystack Partners and several prominent angel investors.
Hangar also invited DJI, 3DR and Yuneec drone owners to sign up for Hangar’s private beta. It’s available to select users now and open to the broader public later this year.