The Australian autonomous mapping and data analytics start-up is ready to implement global expansion plans after closing an oversubscribed $32 million Series A round.
The capital raise will enable Emesent to double the size of its engineering team, particularly in the area of data analytics, according to co-founder and chief executive officer Stefan Hrabar.
“This will ensure we’re developing end-to-end solutions for our customers, from autonomous data capture through to autonomous analytics,” he said.
“We’re also building a state-of-the-art manufacturing, calibration and test facility near our Brisbane headquarters to meet growing demand, as well as opening offices in the US and UK.”
Emesent has made significant progress in the Australian mining sector since its inception three year ago, with its Hovermap technology used by majors like BHP, Glencore and Anglo American to obtain high-quality mapping data to help improve safety and productivity.
Hrabar said the capital raise and global expansion plans were evidence of the company’s growing success in mining and beyond.
“We have grown from seven to 130 staff in just three years by establishing ourselves as a global leader in our industry, with more than 300 customers in more than 40 countries,” he said.
“Autonomous data capture and analytics is providing significant benefits to the mining and infrastructure sectors, with very clear returns on investment in terms of safety, productivity and yield.
“Our drone autonomy, LiDAR mapping and analytics technology will certainly benefit the architecture, engineering and construction, as well as the oil, gas and defence markets.”
Emesent’s capital raise was led by Australian investment firm Perennial Partners, with funding from international investors Tiger Global and TELUS Ventures.
“Emesent’s leading drone-based data capture platform gives companies unprecedented access to some of the most challenging geographies,” Tiger Global partner Griffin Schroeder said.
“From a safe distance, enterprises can now collect high-quality data that was previously impossible to acquire.”