Led by Valor Equity Partners, Zeitview Brings its War Chest to $114 Million
In a significant development in the drone technology sector, Zeitview, formerly known as DroneBase, has announced that it has raised $55 million in funding. The investment round was led by Valor Equity Partners, with participation from other prominent investors including Union Square Ventures, Upfront Ventures, Euclidean Capital, Energy Transition Ventures, and Hearst Ventures.
According to CEO Dan Burton, the funds will be used to expand Zeitview’s product offerings, acquire new customers, and continue its recruitment efforts. This fresh infusion of capital brings Zeitview’s total war chest to $114 million.
A Brief History of Zeitview
Founded in 2014 by Dan Burton, a former military veteran with a passion for cutting-edge technology, Zeitview initially aimed to bring a new resource to businesses: the sky. With drones and sensors at its disposal, the company sought to capture data about how assets – such as solar panels and turbines – change over time.
Burton’s vision was to leverage airborne robotics and sensors to enable advanced inspections that were safer, faster, more accurate, and more affordable than traditional analog methods. He has personally flown many of Zeitview’s early drone missions, citing the potential of robotics-based solutions in enabling accelerated inspection capabilities.
The Business Model
Zeitview uses drones to capture data – including images and thermal readings – on infrastructure like wind turbines and solar panels. This data is then run through AI algorithms that screen for anomalies such as damaged turbine blades and classify them, alerting customers to issues as they arise.
The company’s solutions cater not only to asset owners but also to the renewable energy and utility sectors globally. Zeitview’s commitment to reducing inspection costs positions it at the forefront of driving the energy transition market forward.
Key Players Involved
- Dan Burton: CEO of Zeitview, responsible for envisioning the company’s innovative approach to drone technology.
- Valor Equity Partners: Led the investment round, providing crucial funding to propel Zeitview’s growth.
- Union Square Ventures, Upfront Ventures, Euclidean Capital, Energy Transition Ventures, and Hearst Ventures: Participating investors who have contributed to Zeitview’s success.
Industry Insights
Aerial inspection is a fundamental requirement in the renewable energy and infrastructure industry. As Neal Dikeman, partner at Energy Transition Ventures, notes: "Aerial inspection is a fundamental requirement in the renewable energy and infrastructure industry, and Zeitview stands out as the only company capable of providing this service in the built environment, renewables, and utility infrastructure sectors globally."
