HUVRData, a drone-based data analytics company, has officially launched, and recently announced $2 million-funding from angel investment organizations including Central Texas Angel Network (CTAN), Houston Angel Network (HAN) and the Texas HALO Fund. In the past 1.5 years, HUVR has built out its technology, secured the full FAA approval for its commercial drone applications, and established its value to first target markets of wind, solar, oil, gas and precision agriculture.
“The response to HUVR has been astonishing,” said co-founder and CEO Bob Baughman. “Our wind farm inspection packages provide wind farm owners actionable data that can save significant Operating Expenses and provide this in a way that is much more efficient and cost effective than conventional methods. The investor response was so positive we raised more than we planned, which will allow us to expand even more aggressively.”
HUVR delivers data analytics using drone-based inspections and cloud-based services. It was among the first companies to obtain FAA authorization to fly drones for industrial applications. The company has engaged customers in the wind industry and plans to expand to oil and gas, solar and precision agriculture.
HUVR’s cloud- and data analytics-focus and its business applications of drones attracted interest from many investors, including those part of the initial $2 million raised from CTAN.
“HUVR combines the vision and technology valuable to the Houston-based oil and gas industry” said Bill Hughes, deal lead for the Houston Angel Network. “HUVR’s impact can span the Gulf Coast and beyond; investors saw the clear value HUVR can deliver in multiple segments of the energy industry.”
“Austin is rapidly earning its place as a clean-tech hub,” said Gene Betts, Central Texas Angel Network Board Member and deal lead for CTAN. “We see a lot of very interesting businesses at CTAN, and HUVR stands out as one of the first movers in a truly new space run by experienced founders with excellent track records. They have already demonstrated their capabilities in the wind farm space and are set to launch and expand their services through this raise.“
HUVR is focused on working with wind farm owners and repair companies to perform regular and ongoing turbine assessments of entire wind farms, identifying and diagnosing damage from cracks, lightening strikes, and more. HUVR’s methods are allegedly four times faster than current manual methods, and also safer.
HUVR’s cloud-based delivery system allows customers to access their information real-time and have it available in a secure and safe cloud platform. Today, traditional labor-intensive inspection methods allow approximately 30% of a fleet of turbines to be inspected annually. Now, an entire wind farm can be monitored frequently, and thoroughly, with problems spotted immediately. This provides a new Operations and Maintenance method that wind farms can use to reduce costs and continue operation.
Filed Under: News, O&M