Kespry raises $33 million in Series C funding round
Silicon Valley-based drone solutions provider Kespry today announced that it raised $33 million in a Series C funding round, led by G2VP. Shell Technology Ventures, ABB Ventures and Cisco Investments also joined as new investors in the company.
With the new funding, Kespry intends to expand internationally and in the energy utility sector.
Kespry builds drones for primarily industrial use-cases, with clients including John Deere, Hancock Claims Consultants, Catastrophe Response Unit (CRU), Fluor, Lehigh Hanson/Heidelberg, and Colas USA. Its drones have been used in a range of situations including to carry out roof inspections in the aftermath of Hurricanes Harvey and Irma.
“Drones are emerging as a new category of sensor networks. Cisco’s industrial customers are increasingly adopting aerial intelligence for efficiency, cost reduction and safety initiatives in their field operations,” said Rob Salvagno, Head of Cisco Investments and Corporate Development.
Kespry closed its $12.3m Series A round in October 2014 and a $16m Series B round in June 2016. Existing investors also participating in this round include Lightspeed Venture Partners, DCM Ventures, Spectrum 28, and H. Barton Asset Management.
Kespry joins a number of other major drone industry players in raising significant funding rounds this year. Israel-based dronemaker Airobotics, which also makes industrial-focused drones, raised $32.5 million in September.
Measure, which doesn’t make drones but instead operates as a drone service provider using drones — primarily from Chinese manufacturer DJI — also raised $15 million this year.
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