As drones evolve from military to civilian uses, venture capitalists move in

Tim Draper, managing partner of Draper Fisher Jurvetson. Draper, an early investor in Hotmail, Skype and Baidu, is now backing DroneDeploy, a start-up that is building software to direct unmanned aircraft on land mapping and the surveillance of agricultural fields.

Commercial drones will soon populate U.S. airspace, and venture capitalists like Tim Draper are placing their bets.

Draper, an early investor in Hotmail, Skype and Baidu, is now backing DroneDeploy, a start-up that is building software to direct unmanned aircraft on land mapping and the surveillance of agricultural fields. Draper says he even expects drones to one day bring him dinner.

“Drones hold the promise of companies anticipating our every need and delivering without human involvement,” Draper, 55, wrote in an e-mail. “Everything from pizza delivery to personal shopping can be handled by drones.”

Venture investors in the United States poured $40.9 million into drone-related start-ups in the first nine months of this year, more than double the amount for all of 2012, according to data provided to Bloomberg News by PricewaterhouseCoopers and the National Venture Capital Association. Drones are moving from the military, where they’ve been used to spy on and kill suspected terrorists, to a range of civilian activities.

Read the full article…

Leave a Reply