Welcoming Propeller Aero
I am thrilled to announce that Costanoa has led a $3.1M seed investment in Propeller Aero, with participation from our friends at Accel Partners and Blackbird Ventures.
From the moment we met Rory and Francis (co-founders of Propeller), we were impressed by their combination of technical depth and a clear vision for what it would take to make it drop-dead simple for any business to have access to accurate visual data from drones. Based in Sydney, we believe Propeller is ready to follow in the footsteps of companies like Atlassian and Campaign Monitor as one of the next great SaaS companies founded and built in Australia.
Like most enterprise-focused investors, we had long been sold on the benefits of using drones in physical industries. But after talking to many drone operators and companies who could benefit from drones in industries like construction, mining, and agriculture, it became clear that roadblocks to adoption remained. Propeller saw these challenges early on and spent the past two years perfecting a solution capable of eliminating these barriers.
Why are we so excited about Propeller? A few reasons:
Built for the cloud: Industry standard software tools were built for desktop use without the need for collaboration in mind. Propeller has eliminated this friction by delivering a cloud-based platform that allows businesses to run their entire drone workflow from any device, anywhere.
Survey- grade accuracy for everyone: Drone data must be highly accurate to be trusted by businesses to rely on it for key operational decision making. Propeller’s AeroPoints are the first solution to provide highly accurate geo-location data at a fraction of the cost and complexity of traditional surveying approaches. No more paying the professional surveyor to show up with expensive geospatial equipment that only they understand how to use.
Best of breed full-stack solution: By partnering with DJI, Propeller can combine its cloud platform and AeroPoints with hardware from the largest drone OEM in the world, delivering a best of breed, full-stack drone data solution at low cost. DJI’s Phantom 4, released this year, delivers state of the art collision avoidance, computer vision, and safety mechanisms into a $1,200 piece of hardware weighing less than 2kg!
Evolving Regulatory Landscape: Governments worldwide, led by the USA and Australia, have demonstrated a rare willingness to alter regulations in order to allow business use of drones within legal bounds. We believe this highlights the pressure the private sector has placed on the government to allow them to take advantage of this transformative technology. Propeller, along with its industry peers, are well positioned to take advantage of the worldwide growth that is expected to come as a result of a clearer regulatory landscape.
Propeller’s cloud platform has already processed over a million images on over 2,000 sites, across 60 countries. Each week, hundreds of new users sign up for Propeller to accelerate their use of drone data to fuel growth in their businesses.
We believe this team has the potential to lead mainstream adoption of drones within the enterprise and couldn’t be happier to be in a position to support them on this journey.
If you are interested in being a part of their mission to help enterprises unlock the value of drone data, come join us!