DroneView Technologies, a provider of aerial imaging solutions and drone operator training announced today that it has completed an initial funding round from Stephen Polk, a private investor and former Chairman and CEO of R.L. Polk & Co. The funding will be used to accelerate the growth of the company’s training and commercial drone services business initially in the metro Detroit and New York markets.
The market for the commercial use of drones is expected to experience dramatic growth over the next several years. Widespread adoption is anticipated in real estate, construction, precision agriculture, industrial inspection, movie production, search and rescue among numerous other markets. The Federal Aviation Administration (FAA) recently (on February 15th) released their Notice of Proposed Rulemaking which lays out an initial framework to begin to allow the introduction of commercially operated drones in the national airspace.
Michael Singer, CEO of DroneView Technologies said, “We are excited to have finally received the proposed regulatory framework for commercial drone operations from the FAA. While we acknowledge that the details will likely be discussed for some time, it is clear that the FAA recognizes the importance of this large commercial market and the need for appropriate rules to ensure safe and responsible operations.
We have been studying the various opportunities in the emerging commercial drone market for the past year and think the climate is finally right to begin to more aggressively hire the team and make the requisite investments to build a national drone services offering, initially focusing on the following three end markets – real estate/construction, industrial inspection and precision agriculture/farming. We also will look to acquire companies with specialized expertise to further accelerate our growth.” Mr. Singer concluded.
Stephen Polk, CEO of Highgate LLC said, “I have known Michael for many years and have watched him over the past 18 years operate, build, grow and successfully sell four private equity backed technology companies. As a private pilot and a lover of transformational technology I have watched and wanted to participate in the US drone market for some time. I am excited to partner with Michael and his team at DroneView Technologies and believe that we are entering into a market that is poised and finally properly positioned for explosive growth.”
DroneView Technologies is a provider of Aerial Imaging Solutions and Drone Operator Training. With a keen emphasis on Safety and Responsible operations, DroneView Technologies will provide services in the following markets: Real Estate, Construction, Utility and Industrial Inspection, Precision Agriculture and Farming, among others.
Stephen Polk is currently CEO of Highgate LLC based in Birmingham, Michigan. He was formerly the Chairman and CEO of R.L. Polk & Co., an automotive data information business headquartered in Southfield, Michigan. R.L Polk & Co. was owned and operated by the Polk family for 143 years until its sale in July 2013 to the Englewood, Colorado based IHS Inc.