Aerologix announces $2 million capital raise and Brazilian acquisition
SYDNEY, AUSTRALIA / ACCESSWIRE / November 20, 2023 / Australian drone technology startup Aerologix is accelerating its ambitious growth plans, announcing a $2 million capital raise and the strategic acquisition of global mapping software company Mappa.
The funding round was cornerstoned by Lindsay Phillips' Nightingale Partners which doubled down on earlier seed raises. Ellerston Capital is also a backer of the company.
Founded in 2019, by ex-airline pilot Tom Caska and former technology consultant Rakesh Routhu, Aerologix matches drone operators with clients that need aerial imaging. Dubbed the "Uber for drones", Aerologix has signed up more than 29,000 drone pilots since the company was started.
Aerologix is accelerating its global expansion, launching in New Zealand earlier this year and now focusing on North and South America. As part of the plan, the company recently acquired Mappa - a cutting-edge mapping technology company that turns drone data into high resolution maps. Mappa has a strong presence in South America and, under Aerologix's management, will continue to operate as usual servicing its roughly 185 customers while its technology will also be incorporated into Aerologix's offering under AerologixMaps which launches globally today.
AerologixMaps seamlessly integrates into the Aerologix Drone Ecosystem, complementing the AerologixFly app. This integration provides pilots with access to patented Aeropath software, offering an automated flight solution specifically designed for inspecting vertical asset structures through the pilot app.
Co-founder and COO Rakesh Routhu said Mappa's tech was incredibly complementary to Aerologix.
"Mappa was the missing piece in our plan to build a comprehensive global drone ecosystem," he said.
"This acquisition not only supercharges our growth in South and North America but also provides a platform for a Software as a Service (SaaS) model, along with additional revenue streams derived from monetising our extensive drone pilot network."
Co-founder and CEO Tom Caska said interest in the AerologixMaps offering from within the company's network was enormous.
"A simple, affordable way of making maps is a real value-add for our customers and we already have more than 175 pilots on the waitlist," he said.
"AerologixMaps also allows us to establish drone pilot networks abroad without having to set up offices in every country. When we set up our platform of drone pilot networks in various international markets, we will have the correct data to do so. Once again, this gives us a strategic advantage over competitors."
Aerologix's technology supports 135 different drone types, catering to diverse industries including renewable energy, construction, real estate and infrastructure.
The company is one of a handful of drone companies onboarded into Australia's Civil Aviation Safety Authority (CASA) digital sky platform, meaning both its Aerologix iOS and Android apps ingest CASA weather updates, location-based information and maps that show where pilots can and can't fly.