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PrecisionHawk, a Raleigh, North Carolina-based developer of business drones, is shutting down. In mid-December 2023, the corporate voluntarily filed for Chapter 7 chapter. The Robotic Report reached out to PrecisionHawk however hadn’t acquired a response at press time.
Submitting for Chapter 7 chapter signifies an organization now not has plans to proceed working. Based on the submitting, PrecisionHawk has about $17 million of debt and belongings of about $3.8 million. Based on LinkedIn, it has between 51 and 200 staff.
Based in 2010, PrecisionHawk was as soon as a promising drone startup. It raised greater than $136 million because it was based, together with a $32 million Collection E spherical in 2019.
PrecisionHawk had clients in a wide range of industries, together with agriculture, power, and telecommunications. A few of its functions for agriculture, for instance, included counting crops, quantifying plant well being and maximizing yield. It mentioned one other main utility is inspecting telecommunications towers and electrical energy distribution traces.
The corporate provides an built-in platform of drone and sensor {hardware} and flight and analytics software program companies. The info is collected by the drones and is was actionable intelligence utilizing the corporate’s software program.
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Earlier in 2023, PrecisionHawk was acquired by Subject Group, a European firm centered on information evaluation options for the infrastructure, building, setting, and public service sectors. On the time of the deal, Subject Group mentioned PrecisionHawk would ultimately tackle the “Subject Group” title however that its Raleigh headquarters would stay open. Subject made the acquisition to additional develop its companies in america.
In a September 2023 firm replace, nonetheless, Subject Group determined to close down the PrecisionHawk workplace in Raleigh.
“We knew it could be a problem to make PrecisionHawk worthwhile within the brief time period,” mentioned Subject Group CEO Krister Pedersen. “Regardless of our greatest efforts, we couldn’t flip it round in time, and we now have needed to shut the workplace. It wasn’t a straightforward resolution, but it surely was a essential one.”
PrecisionHawk additionally facilitated drone integration into the airspace with numerous patents for unmanned plane site visitors administration (UTM) methods. It was based underneath the title “WineHawk” and centered its early efforts on utilizing drones to maintain birds away from vineyards.
Information of PrecisionHawk’s chapter was first reported by Triangle Enterprise Journal.