Yariv Geller and Tomer Daniel, co-founders and CEO and CTO of vHive (company pic)
vHive, an Israeli startup that offers a software solution that enables enterprises to deploy autonomous drone hives to create Digital Twins of their assets, has secured $25 million in Series B funding. The funding round is led by PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. Ronen Nir, Managing Director at PSG, has joined vHive’s board of directors.
Founded in 2016 by CEO Yariv Geller, former VP of Marketing at Comverse, and CTO Tomer Daniel, a former Software Development Architect at Intel, vHive is the only software solution that enables enterprises to deploy autonomous drone hives to create digital twins of their assets.
vHive declares its mission is to enable enterprises to go through a digital transformation of their field assets and operations by providing the most scalable drone platform that lowers costs, improves time and inspection quality and ensures employee safety enabling enterprise employees to increase their work value within the company.
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The investment is intended to help bolster vHive’s enterprise digitization platform market leadership and product offerings, which include autonomous drones, data analytics, computer vision, and AI, and fuel the development of new solution capabilities for key markets.
“We believe vHive has built one of the industry’s most advanced and comprehensive digitization solutions, and we are excited to seek to replicate our success in the telecom and crane markets in new market verticals,” said Yariv Geller, CEO and Co-Founder of vHive. “We are thrilled to partner with seasoned investors who share a common vision to advance the company’s mission, extend its reach, and scale its customer base.”
“vHive’s solutions for capturing and digitizing physical assets have enabled the company to build a reputation as a strong partner of choice for top-tier enterprises going through digital transformation – a global trend that is sweeping through multiple industries. Its customers can experience measurable success using vHive’s solution, impacting their operations and workflows,” said Nir. “We have been impressed with the company’s rapid growth and are excited to propel it to the next level.”
