vHive, a software solution that enables enterprises to digitize their field assets and operations using autonomous drone “hives,” has announced a $5.5 million investment led by Octopus Ventures, with repeat participation from StageOne Ventures and private investors.
This funding will support vHive’s mission to expand its customer base and accelerate growth. Zoe Chambers of Octopus Ventures has also joined the company’s board of directors.
“We are really excited to partner with the vHive team,” says Chambers. “As the telco and construction industries drive towards digital transformation, we agree with some of the world’s largest enterprises, that the future lies in a software solution which allows vast amounts of data to be efficiently acquired at scale. The vHive platform orchestrates multiple autonomous drones using off-the-shelf hardware to deliver a rich and accurate overview of field assets. Uniquely, it does this without requiring expert pilots and in a workflow which can be used across the enterprise. We believe that their cutting-edge technology will allow vHive to maintain its leadership in this domain and further capitalize on opportunities with some of the world’s largest enterprises.”
Founded in 2016 by Yariv Geller and Tomer Daniel, vHive says its mission is to enable enterprises to digitally transform by capturing data from the field and applying analytics to generate better actionable business insights.
Since its seed investment, vHive says it has attracted Fortune 500 companies that use its software platform for inspection across a variety of industries: cell towers, construction, insurance and rail.
“Enterprises are using vHive’s software to enable non-expert field employees to deploy autonomous, off-the-shelf drones to digitize their field assets and operations,” Yariv Geller, co-founder and CEO of vHive. “vHive’s solution handles missions of any scale or shape, bringing innovation to a variety of industries.”