Farukh Kitchlew | Nov 29, 2023 | 0
Percepto ready to fly high after raising $67 million for its industrial drones
Percepto, a drone startup, announces a significant funding round to expand its business with software and hardware for industrial drone applications. Startup raised $67 million in Series C funding, with $50 million in shares and $16 million in debt, based in Austin, Texas, with Israel roots.
Percepto has become the first industrial drone business to receive a country-wide Beyond Line of Sight (BVLOS) waiver from the FAA in the United States. This significant development is attributed to improved regulations, as technology has been the key challenge to the drone industry’s growth. Percepto’s co-founder and CEO, Dor Abuhasira, believes that regulation is now a crucial aspect of the industry’s development. He mentioned regulation experienced significant changes in recent years.
Percepto can deploy Remote-controlled drones in critical infrastructure areas without site-specific regulatory approvals. This eliminates additional personnel and radar deployment, speeding up rollouts, lowering costs, and potentially increasing business. Koch Disruptive Technologies leads Percepto’s Series C, with Zimmer Partners and an unnamed USA energy company as backers. Percepto, in total, has raised $120 million, with previous backers US, Venture Partners, Delek US Holdings, Atento Capital, Spider Capital, and Arkin Holdings. The valuation is kept secret, but Abuhasira acknowledged it is an up round.
Percepto offers cloud-based analytics for monitoring drones for faults and performance, providing diagnostics that are difficult to gather through other methods. Available in two models, Max and Max OGI, Percepto’s solutions cater to various industries, including manufacturing, energy, oil, and gas.
Zipline and Wingcopter received funding rounds worth $330 million and $44 million, respectively. The optimism in drone business and operation scenarios extends to remote-control toys and lethal weapons, as seen in Ukraine’s “redefining warfare.” In February, Skydio, a combat drone manufacturer, raised $230 million at a valuation of $2.2 billion.
Reach sustainable economies of scale and deal with ongoing market problems, like navigation dependability, battery life, and obstacle detection. These issues still exist for remote workers like Percepto, highlighting the need for further exploration and regulation in the execution of these devices. The evolution of business practices in robotics and drones has led to collaborations between Percepto and Boston Complexities. Percepto recently signed a significant agreement to co-develop remedies with Boston Complexities, highlighting the difficulties in teamwork and the potential lack of market need for the outcomes.
Chase Koch, Founder and CEO of Koch Disruptive Technologies, said, “Percepto is a powerful force in boosting the accessibility of automated drones for industrial inspection and monitoring.”
Percepto aims to be more hardware-independent with software compatible with various robotics platforms, according to Abuhasira. Percepto is a robotics investment using drones to improve quality checks at industrial sites. Despite being a popular choice for businesses, Percepto’s end-to-end strategy caught their attention, and their conviction in the company stemmed from thorough diligence and process. The company’s end-to-end strategy sets it apart from competitors in the market.
Percepto is a top company for independent industrial site inspections, focusing on automating inspection procedures and filling a crucial market niche. Their focus on operational effectiveness and site monitoring highlights the potential for industrial businesses to maximize value and enhance functional and safety outcomes by combining autonomous systems and human workers’ expertise.