AI-powered drone software company Converge, a commercial drone software provider, has raised over three quarters of a million in seed funding. The company’s initial round of funding included investors Samsung NEXT, Techstars Ventures, Kima Ventures, and other angel investors.
San Francisco startup Converge, founded by MIT alumni, offers a promising product at a promising time for the industry: with commercial drone market booming (the estimations always range counting in billions), drone companies are are reaping the benefit of investment.
Commercial Drone Market Growth
The commercial drone market is expected to grow to $58.3B as traditional industries incorporate drones to execute tasks from delivery to inspections through to emergency response. It is the fastest growing drone market segment, however AI software is needed to move beyond intensive, hands-on planning, flying and distilling data to an automated world where drones are a seamless part of business operations.
The founders, says a company announcement, built the first app for flying a drone with a smartphone. “The software has already been piloted by a selection of drone service providers and one of the largest construction companies in Florida,” says the company. In addition, the funding allowed Converge to deploy their solution for 50 insurance adjusters at a global insurance agency.
According to the funding website, the Converge software takes the benefits of AI-powered obstacle-avoiding, flight stabilizing technology and puts it into a smartphone app – essentially allowing in-house operators like insurance adjusters to be able to fly well enough to get consistent data without as much flight experience and practice with a joystick. The integrated suite also includes airspace intelligence and customer reporting.
Competition and Mission
Converge will have tough competition in the drone software space, but the smartphone app could well prove to be a differentiator. Having some major customers at this early stage is a good sign, and the team plans to keep working on their solution. “The investment is also helping to develop and refine the software and grow the Converge team,” says the announcement.
“Our mission is to bring the possibilities of drones to traditional industries such as insurance and construction,” said David Pitman, Co-Founder and CEO of Converge. “We are using artificial intelligence to turn drones into an essential team member, working alongside humans, transforming the efficiency of operations. Drones have the ability to take on dull, dirty, and dangerous work; removing risk and enabling companies to save valuable time and money.”
Since closing the funding round, Converge has been able to run a deployment of its AI powered software for commercial drones with over 50 insurance adjusters at a global insurance company. The investment is also helping to develop and refine the software and grow the Converge team.
Headquartered in San Francisco, Converge is developing AI fueled software for drones that enables them to take on dull, dirty, and dangerous work. The Converge app is easy to use and enables service providers and businesses to automate and integrate drones into their existing workflows. Learn more about Converge here.