5×5 Technologies Inc., a provider of 3D spatial computing and data analysis of drone collected data, announced yesterday it closed the first tranche of its $6 million round of Series B funding with Safar Partners Fund.
The new equity funding is projected to accelerate the expansion of 5×5’s Ávrio Compute and Reality CAD data analysis platforms which ingest drone collected data and use photogrammetry to reconstruct precise, high fidelity 3D digital twins. The company stated its accuracy is based on proprietary volumetric georeferencing tools.
To date in 2020, 5×5 reconstructed over 1,300 digital twins for customers including tower owners, carriers and engineering companies in the U.S. and is currently expanding into Europe and the Middle East.
“The digital twins of our towers that 5×5 creates are precise, high resolution models that allow us to make faster, more accurate business decisions for our carrier customers,” said Robert McCoy, Unmanned Aerial Systems Program Manager, Crown Castle.
This funding, combined with a Jump Start Award from Amazon Web Services, will also allow the company to accelerate the development of its 3D spatial computing technology. That integrates machine learning and artificial intelligence for equipment identification, change detection and automation of other mission critical analytics.
“Our proven data collection standard operating procedures combined with our proprietary workflows and our Ávrio Platform make utilizing drones at large scale for asset management a reality,” said 5×5’s CEO Anne Zink.