SkyWatch, a data analysis, risk-assessment and active risk-reduction platform for the drone industry, announced today that it has raised $2 million in seed capital from F2 Capital, Verizon Ventures and Kaedan Capital, with participation of former senior insurance executives from companies including Axa and Liberty Mutual.
SkyWatch’s software platform uses a variety of data sources and AI-based algorithms to analyze risks. These include more than 30 drone sensors to predict and prevent potential failures before they occur; hyper-local weather mapping (wind, precipitation, and temperature); 3-D airspace and ground mapping; and crowd density mapping. SkyWatch’s mobile application will be available on iOS and Android to both business and recreational operators in Q1 2018. The application will connect to most unmanned aerial vehicles of choice and allow operators to get real-time hazard warnings based off of the drone’s telemetry, calculating a proprietary “safety score” for each flight, based on the operator’s behavior.
SkyWatch will use the financing to continue building its innovative platform, enabling drone service providers to track important safety metrics during flight planning, flight execution and post-flight, and build on-demand insurance solutions.