This post originally appeared on http://www.forbes.com/sites/ryanmac/2016/06/21/enterprise-drone-maker-kespry-closes-16-million-round-with-new-faa-regulations-in-sight/.
[Editor’s Note: Kespry was founded in 2013 and provides an Automated Drone System for Aggregates, Construction, Insurance and Mining.]
On Tuesday, the Federal Aviation Administration unveiled a new set of guidelines to govern the commercial use of drones, a turning point that many in the industry believe will open up a new frontier of opportunities. In light of that announcement, one Menlo Park, Calif.-based startup is well-poised to take advantage of the new regulations, which have been anticipated for months.
In conjunction with the new FAA rules governing unmanned aerial vehicles (UAVs), enterprise drone maker Kespry, announced that it had raised $16 million in venture funding to expand operations. DCM Ventures led the round, which took the company’s total lifetime funding to more than $26 million.
Founded in 2013 by Stanford grad Paul Doersch, Kespry competes with the likes of other well-funded drone startups like Airware and Skycatch in the nascent commercial UAV space. Unlike the others, however, Kespry has developed a vertically-integrated system, building both the software for data collection and storage as well as the actual drone hardware for a completely integrated system.
“The Kespry system is a 20-minute flight, make a 3D model of the whole thing, click, click, click, and they have an inventory report,” he said. “The old method for that was to hire a survey crew and set up GPS poles. They climb up piles and slip down piles. It’s very primitive.”
Listen to Kespry CEO Paul Doersch explain the opportunities for his business and others in the enterprise drone space on this week’s edition of “The Premise:”
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