vHive, a software solution that enables enterprises to deploy autonomous drone hives to create Digital Twins of their assets, has secured USSD25 million in a Series B funding round led by PSG.
Previous investors Octopus Ventures and Telekom Innovation Pool (TIP), Deutsche Telekom’s strategic investment fund advised by DTCP, also participated in the round. Ronen Nir, Managing Director at PSG, has joined vHive’s board of directors.
PSG’s investment in vHive aims to further accelerate the company’s expansion of its global customer base and enable the company to scale up operations in key markets, as well as to enter new ones. The investment is also 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.
