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Funding

Drone mapping analytics startup Propeller raises $23 million

- April 18, 2023 < 1 MIN READ
Propeller
Image: Propeller
Sydney startup propeller, which uses drones for mapping and analysis of construction, quarries, mines, and other ground sites has raised US$15.35 million (A$ 22.8m) in a round led by its long-time backers  Blackbird and Silicon Valley VC Costanoa Partners.

Also joining the cap table are Aware Super, Canva founder Cliff Obrecht, and LaunchVic chair Leigh Jasper’s VC fund Saniel Ventures.

Propeller’s core product is drone mapping software, but the decade-old company is developing worksite collaboration workflow insights from the data collected and is looking to create a digital meeting ground for project teams in a category they’re calling “smart surveys”.

The software platform allows users to track, map, and measure active sites using cloud-based 3D surveys.

The business now has more than 200 employees strong and is used on around 15,000 worksites monthly The capital injection will go towards improving develop new products and build its team. Its new product DirtMate, is designed for construction and earthworks, captures data on the ground from monitors on the cabs of machines on site to generate key production data.

A spokesperson for Aware Super said the construction industry hasn’t had the data or tools to effectively track projects, which leads to delays and cost overruns.

“Propeller makes data capture and survey analysis available to everyone to support the delivery of effective project management and better outcomes,” they said.

“From our very first meeting, we were impressed by the team’s execution and the vision they’ve laid out to become the clear leader to digitise the construction industry.”

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