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Drone Startup Hangar Raises $6.5 Million Seed Round

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Drone Startup Hangar Raises $6.5 Million Seed Round

Hangar, a software company that specializes in autonomous data capture using drone technology, was co-founded by Colin Guinn. Guinn may be best known for being the first person to fly a drone in Congress and is synonymous with drones in international media. The company's other co-founder, Jeffrey DeCoux, is an expert in enterprise software and SaaS, with a proven background in successful startups.

The two executives' combined experience and expertise in aerial technology and enterprise software are expected to deliver valuable data services for the drone industry.

$6.5 Million Seed Round

To lead the charge in advancing the drone market, Hangar announced it has received $6.5 million in seed financing led by Lux Capital. With the cash infusion, the company is looking to provide not only high-quality aerial data across various industries but at a more affordable than ever price.

Lux Capital's partner Bilal Zuberi will join Hangar's board of directors as part of the financing. The deep technology venture capital firm's portfolio of businesses includes well-known companies in satellite, drone and robotics technology that complement Hangar's.

Related Link: The Drone Wars Are Heating Up; Could GoPro Be Left In The Dust?

Fontinalis Partners, an investment firm that specializes in identifying technologies related to next-generation mobility, also participating in the financing round, as did Haystack Partners and several prominent angel investors.

As Colin recently shared in an email to his drone enthusiast subscribers: "Over the next 12 months we'll be introducing the world to Hangar. The time has come for aerial innovators, both individual and corporate, to work together to show that these technologies are more than just consumer gadgets, but transformative providers of data on a level the world has never experienced. Stay tuned."

"We've spent the last six years deeply involved in the major transformative hardware innovations of the consumer and professional drone industry, and it's exciting to take the opportunities we've seen for the future and form a company with an entirely new vision for the industry," Guinn said in a press release. "I've watched drone technology advance at a breakneck pace like no other product before it. These consumer-friendly products now have multiple computers, an autopilot, 4k cameras, long-range video links, sensors and more and only costs $500–$999.

“Harnessing that technology is an unparalleled opportunity across industry. ‘Consumer' drones have become so advanced that no human can fully maximize and capitalize on their capabilities — it's time for software to automate and optimize data capture from these devices."

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Posted-In: Bilal Zuberi Colin Guinn drone drone technology Fontinalis PartnersNews Startups Tech Best of Benzinga

 

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