vHive Secures $4 Million in an Investment led by Deutsche Telekom to Accelerate Expansion in the Enterprise Drone Hive Software Market
Funding will support vHive’s rapid growth trajectory as it helps enterprises gain business insights to their field assets while streamlining costs
- vHive’s platform digitizes enterprise’s field assets using autonomous drone hives, powering their digital business transformations.
- Deutsche Telekom, one of the world’s leading integrated telecommunications companies is making a strategic investment in vHive to propel further expansion in the telecom industry.
- Enterprises benefit from accurate data analytics and insights about their field operations creating a tremendous market opportunity for vHive’s technology.
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vHive, the only software solution that enables enterprises to digitize their field assets and operations using autonomous drone hives, announced a $4 million extension to its Series A, led by Telekom Innovation Pool (TIP), Deutsche Telekom’s strategic investment fund advised by DTCP. Existing investors Octopus Ventures and StageOne Ventures participated in the funding, which will accelerate the company’s growth and expansion in the enterprise drone software market. Joel Fisch, Deutsche Telekom Vice President and TIP Co-managing Director has joined the Company’s board of directors.
Deutsche Telekom, one of the world’s leading telecommunication companies, is investing in vHive to fuel the company’s continued expansion in markets that are going through digital transformation using autonomous drone hives. These markets include telecom, construction, cranes, insurance and others. The investment will support vHive’s leadership in data analytics, computer vision and AI, and further automate recognition of items of interest. Deutsche Telekom with its global portfolio, will assist in applying vHive’s solution in the Telecom space.
“We are thrilled to have the backing of a significant industry player such as Deutsche Telekom as a testimonial to vHive’s innovation,” said Yariv Geller, CEO and co-founder of vHive. “Deutsche Telekom’s investment demonstrates their commitment to digitizing their infrastructure using the vHive platform as well as the acceptance of drones, digital twins and data analytics as a significant telecom industry practice with clear use cases and ROI.”
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vHive’s unique software platform is built with its customer journey in mind. Its end-to-end solution enables organizations to produce 2D and 3D Digital Twins of assets such as cell towers, cranes and structures and uses AI and analytics to generate business and operational insights. The software provides an intuitive user interface for inspection, measurement and identification of equipment and faults. vHive has trained its AI and computer vision algorithms on a broad data set composed of real assets that unlock new use cases with a precision that is hard to replicate for competitors.
“The last decade has seen an explosion of end-device processing power, imaging technology and cloud compute. Coupled with advances in drone technology and increasingly sensitive sensors, this has created disruptive opportunities around how to capture and analyze the physical world,” said Deutsche Telekom Vice President and TIP Co-managing Director, Joel Fisch. “vHive sits at the confluence of these trends and is developing technology and business models for digitizing physical assets as a new drone ecosystem comes into being.”
vHive has been working closely with Deutsche Funkturm GmbH as an integral part of its digital transformation process. As a provider of radio infrastructure, Deutsche Funkturm acquires, plans, realizes, operates, and markets radio sites throughout Germany. The joint work, which is now materializing into a long-term relationship, digitizes Deutsche Funkturm’s assets and provides operational insights using autonomous drones.
“The greatest added value to be gained from our cooperation with vHive is in continually managing ‘digital twins’ of our portfolio. Through the precise digitization of our sites and the analytic insights generated using vHive’s innovative software solution, we expect a sustainable increase in efficiency and quality,” says Martin Bouchard, Chief Operating Officer of DFMG Deutsche Funkturm GmbH.
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