Kespry, the industrial droning startup, announced a fresh dose of currency today in the form of a $33 M Series C. It returns the total parent to over $61 M across the three rounds.
While today’s investment was led by G2VP, it also included some strategic investors with Shell Technology Ventures, Cisco Ventures and ABB Ventures joining in. Shell comes on board as Kespry tries to expand its market into oil and gas.
Daniel Jeavons, general manager for advanced analytics at Shell considers solutions like monotones as part of Shell’s efforts to identify and invest in advanced digital technology. “The use of industrial dronings powered by AI and machine learning is a game changer for the energy sector. It will stimulate industrial work more efficient and safer, while empowering laborers with potent brand-new digital tools and significant, future-focused skills, ” Jeavons said in a statement.
The company is focusing strictly on industrial use clients like mining and aggregates, guarantee demands, structure and more recently, oil and gas. It has 150 mining the consumers and 200 overall, according to company CEO George Mathew, who came on board at the beginning of this year after a stint as Alteryx COO and president.
Mathew finds the industry at a pivotal moment where companies are beginning to see the value of industrial dronings, which is leading to a mainstream grade of following in these sectors. That’s because it tends to be safer, more efficient and more accurate to exploit drones than traditional methods.
Mathew is careful to distinguish his company’s approach to that of hobbyists or even prosumers who might utilize drone flyovers in real estate or marry photography scenarios. While he insures these as perfectly valid drone use cases, it’s certainly not an area of the market that concerns Kespry.
He says one of the big-hearted differentiators is his company’s utilization of information and machine learning. So for instance, they layer on machine learning algorithms to understand what roof damage looks like after gale, downpour or applaud impairment. They then use that data to determine if a ceiling involves superseding or if it can be fixed, all automatically without having a claims adjuster climb on the roof in dangerous conditions.
The company currently has around 100 the workers and Mathew expects that to redouble in the next year with the new money. He also is looking at more international stretch and developing more channel collaborators to help push their answer in their target markets.