HERTZELIA, Israel, April 24, 2017 /PRNewswire/ -- vHive, the developer of cloud based software that enables organizations to operate autonomous drone fleets for the acquisition, management and processing of field data, announced today that it completed a $2 million first round of funding led by venture capital firm StageOne and several additional private investors. The round will enable vHive to further develop its Mission AI™ technology and to expand into new markets. The company is adding two new directors: Mr. Yoav Samet of StageOne and serial entrepreneur Benny Schnaider.
"vHive is a game changer with its ability to harness drone fleets for autonomous missions of any scale and any complexity in ways that have not been possible before," said Samet. "The company has proven itself in industries such as Civil Engineering and Utilities by giving users capabilities and insights that are essential to their day to day operations."
"With presence in Israel and in the Silicon Valley, and a focus on young companies with deep technology, StageOne is an ideal partner for us," said Yariv Geller, vHive's CEO. "StageOne and our investors bring a rich experience in commercializing organizational software, which is essential for us to realize our vision."
vHive started in 2016 as the first company to develop an artificial intelligence solution to manage drone fleet missions. Over the past years, many organizations have embraced drones as rapid, accessible and precise tools to collect field data, though for the most part in simple, small-scale missions. vHive's Mission AI™ enables organizations and drone operators to manage missions of any scale, by taking into account mission goals and types, the number of drones and their capabilities, various sensor types and a variety of mission parameters such as regulations, safety, environmental conditions and real time mission dynamics. The company is currently active in industries such as Civil Engineering, Construction and Utilities, were it provides an end-to-end solution to plan and manage multi-UAV missions for the acquisition, management and processing of field data.
vHive is the developer of cloud based software that enables organizations to operate autonomous drone fleets for the acquisition, management and processing of field data. vHive's Mission AI™ uniquely enables organizations in a variety of industries such as Civil Engineering, Construction and Utilities to focus on their business needs rather than on the complex operation of drone missions.
About StageOne Ventures
StageOne Ventures has been investing in exceptional founders of Israel-related, early-stage B2B software and next generation IT Infrastructure startups for nearly two decades. StageOne backs entrepreneurs with ideas that have transformative effects on the enterprise technology ecosystem, and on the greater economy as a whole. The StageOne investment team leverages strong global networks and exceptional personal brands built over decades of hands-on operational capacity for the benefit of its companies. The fund's physical presence in both Israel and Silicon Valley allows StageOne to help its entrepreneurs across all the phases of building global category-leading companies.
Yariv Geller, CEO
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