Airware Gains a New Investor in General Electric

Posted by Betsy Lillian on November 19, 2014 No Comments
Categories : Business Operations

Airware – creator of a hardware, software and cloud services platform for commercial drone development and operation – says it has raised a strategic investment from GE Ventures, the investment arm of General Electric (GE).

GE and Airware will work together to identify ways that Airware's platform can help deliver safer, more efficient solutions for GE’s industrial customer base and allow them to collect better data and make more informed decisions, according to Airware.

The company says it will use the funding to continue preparations for the commercial launch of its platform and continue to expand its engineering, sales, marketing and customer support functions.

“GE, a Fortune 50 company, sees commercial drones as a promising way to collect richer, faster and more effective data in a wide range of markets,” comments Jonathan Downey, founder and CEO of Airware. “The company operates in more than 170 countries globally and across many industries, and we’re thrilled to provide it with a platform to explore the space further.”

“Airware is at the heart of today’s commercial UAV ecosystem, and GE Ventures is excited to use this partnership to learn more about how drones can be used to meet the needs of our customers and business units,” adds Alex Tepper, managing director of GE Ventures.

Airware says it has raised over $40 million to date from venture capital firms and strategic investors, including Kleiner Perkins Caufield & Byers, Andreessen Horowitz, First Round Capital, Google Ventures and GE Ventures.

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