NEWS

Industrial Robotics, Drones, Automation, Geospatial & AI

August 13, 2024: Issue 107

The drone industry has experienced a rollercoaster 🎢 of investment in recent years. After a meteoric rise in funding between 2019 and 2021, the industry faced a significant downturn in 2022 and 2023. 

While the overall funding amount has decreased, there are nuances to this trend that offer both challenges and opportunities for drone companies. See who is enjoying the ride and getting that cash now ⬇️ when we unpack the surprising new patterns in drone company funding, recently published by Drone Industry Insights.

What’s Inside:

• 📈 Drone Investments: The Winds Are Shifting—Are You Ready? 
• 🆕 7 Signs You Need a (New) GIS Strategy
• 🚚 Robo Trucks Ready To Begin Sand Hauling in the Permian 
• 🌦️ AI & Storm Resilience: How Utilities Optimize Storm Solutions & Mitigate Risks
• 🤑 Cyberhawk Announces Record-Breaking 55 Percent Revenue Growth in FY 2024
• 🌟 Constellation Sells Clearsight Inspection Unit to Zeitview

WHAT'S BIG

Drone Investments: The Winds Are Shifting—Are You Ready?

(Image Credit: Hammer Missions)

The drone industry has been soaring high, but recently, the winds have changed. After a few years of record-breaking funding, the industry’s ride has taken a bit of a dip—yet, there’s more to this story than meets the eye.

In our latest article, “Drone Industry Funding: A Shift in the Wind,” we’re unpacking the surprising new patterns in drone company funding. Did you know that while overall investments dropped by 49% in 2023, IPO and post-IPO values have doubled? It’s not all doom and gloom—there are golden opportunities hiding in plain sight.

Here’s a taste of what you’ll find:

• Funding Cut in Half: Discover why late-stage investments have become harder to come by and what it means for the future.
• Global Shifts: See how Europe and the Middle East are emerging as new players in the drone funding arena.
• Strategic Moves: Fewer mergers and acquisitions, but with triple the value. What’s behind this high-stakes game of drone chess?
• Partnership Power: The industry is buzzing with collaborations, especially between drone and non-drone companies. Who’s teaming up and why?

Whether you’re an investor looking for the next big opportunity or a drone company navigating these changing skies, our insights will give you the edge you need.

Read the full story about the drone investment landscape and who’s getting the money now

WHAT'S UP

• Geo No-Go: Like any technology, the effectiveness of GIS is contingent upon a well-crafted strategy. And as technology and business landscapes evolve, so do our strategies. So, here are seven signs to look out for that your GIS strategy most likely needs an update.
• Robo Rig Haul: Atlas Energy Solutions and Kodiak Robotics have struck a deal to introduce autonomous vehicles to the US oil and gas industry. The companies claim this development will be a first not only for the upstream sector but also for the US commercial trucking industry when they transport sand to tight oil and gas well locations in the prolific Permian Basin.
• Storm Smarts: AI-driven solutions can help utility decision-makers and crews enhance their preparedness; allocate resources appropriately; and quickly respond to issues before, during, and after a storm. By doing so, utility chief information officers can help ensure a resilient power supply, reduce operational costs, improve operational efficiencies and safeguard assets and communities.

IN PARTNERSHIP WITH: UAS Geoscience 2024 Registration is now open, and spots are limited for this event Sept 29 - Oct 2! At UAS Geoscience 2024, you’ll learn how to leverage UAS-enabled surface and subsurface mapping for geospatial analysis. Gain invaluable insights into how UAS and remote sensing can be used to discover extractable earth resources, identify 

areas impacted by contamination, obtain engineering properties of rock formations, locate legacy oil and gas wells and pipelines, and safely detect and delineate unexploded munitions. Whether you’re a geologist, geophysicist, agricultural scientist, environmental engineer, reclamation specialist, hydrologist, or work in related fields, this conference is an essential event for anyone looking to harness the power of UAS and remote sensing technology for autonomous mapping. Register now! 

WHAT'S NEXT 

• Attend the Internal Robotic API 653 Tanks Inspections and Capabilities Webinar hosted by Square Robot Inc. on Thursday, August 29th.  Learn how robotics inspections can assess the bottom plates and critical zones of above-ground storage tanks per API 653 standards, even while the tanks remains on-stream and filled with product. We'll also discuss our robot's data set collections.
• Unitree is taking on its US competitors by rolling out an interesting update to its quadruped Go2. The Go2-W is an all-terrain variant of its Go2 series, featuring motorized wheels instead of pads on its feet.
• Xcel Energy has started using FlytBase's Drone Autonomy Software Platform for their solar farm inspections. With FlytBase and their DJI Docks, supplied by Frontier Precision, they aim to optimize solar panel maintenance through scheduled inspections and thermal data collection for proactive fault detection.

WHAT'S THE DEAL

EDR COALITION MEMBER SPOTLIGHT

MFE Inspection Solutions, your premier partner in the inspection industry. They specialize in a wide range of products, including NDT (Non-Destructive Testing), RVI (Remote Visual Inspection), ENV (Environmental Monitoring), and unmanned robotic systems (drones, crawlers, and quadrupeds). Their commitment is to provide you with top-of-the-line tools and solutions, placing a strong emphasis on dependability, exceptional customer service, and unwavering professionalism.

WHAT ELSE

Bot Ballet: When Robots Find Their Rhythm

(Image Credit: Robots & Startups)