Spexi, the Largest and Fastest Growing Standardized Ultra-High-Resolution Drone Imagery Network, Announces $11.5 Million Series A Funding Round

Spexi's Series A is announced as applications such as autonomous systems, smart infrastructure, gaming, and AI are in development

VANCOUVER, BC / ACCESSWIRE / December 5, 2024 / Spexi today announced the close of its $11.5M USD Series A Funding Round with lead investor Blockchange Ventures. The company is transforming the aerial imagery industry by building a scalable global network of drone pilots to capture and deliver frequently updated, data-rich earth, fully standardized imagery to both the public and private sectors-all with near-zero emissions.

Traditionally, Earth imagery has been captured using airplanes and satellites, each resulting in relatively lower-resolution images that are either expensive to acquire, updated infrequently, or have high climate impact. These systems are inadequate for companies and government services in need of near real-time data for critical tasks such as evacuation planning, building and infrastructure inspections, flood monitoring, and wildfire prevention. Traditional aerial imagery also fails to meet the demands of next-generation applications like autonomous systems, smart infrastructure, and AR/VR gaming. The data collected by Spexi is immediately accessible to clients, providing 900 times the detail of traditional satellite imagery at a fraction of the cost.

"With our ability to scale rapidly and deliver superior data with near zero emissions, I am proud that we are not only supporting essential government and emergency response services at a fraction of the usual cost, but also driving the future of AI and metaverse powered technologies across industries globally," said Bill Lakeland, CEO of Spexi.

In 2017, recognizing the limitations of traditional image capture methods, Bill Lakeland and team brought their extensive experience as aerial imagery and aviation specialists to develop an innovative, blockchain-based "Fly to Earn" network. This system empowers drone pilot participants to capture standardized ultra-high-resolution aerial data using Spexi's autopilot software. Pilots who complete Spexi's onboarding programs are paid to fly automated flight paths across 24 acre hexagonal plots, using sub-250g drones, with safety systems in place to minimize the risk of collisions and ensure precise data collection.

"The widespread ownership of drones and their high resolution cameras was bound to obsolete the massive existing market for expensive, low resolution, satellite imagery", says Ken Seiff, Managing Partner of Blockchange Ventures. "Spexi has defined a new category of business by pairing better and cheaper drone imagery with the blockchain's ability to ensure image integrity. Spexi is not simply replacing existing satellite imaging use cases, but opening entirely new markets in geospatial, insurance, AI, public safety, government, gaming, and more."

Since closing its Seed Round in late 2022, Spexi has expanded into Canada, the USA, the UK, and Mexico, imaging over 140 cities and over 1.2 million acres of imagery captured. The company has partnered with various government entities, insurance companies, and tech firms. Over the past six months, more than 50,000 drone missions have been completed across its network, creating the largest standardized, ultra-high-resolution drone imagery base layer of Earth.

"As extreme weather events become increasingly more frequent, we take pride in supporting those on the frontlines in keeping people safe at a significantly lower cost," said Spexi CEO Bill Lakeland. "It's deeply rewarding to leverage our pilot network to aid first responders in their life-saving efforts."

Additionally, Spexi's growing dataset is invaluable for training AI models, which rely on large volumes of high-quality, real-world data. From enabling smarter urban planning to advancing AI-driven environmental monitoring, Spexi is becoming a key data provider for industries dependent on cutting-edge AI systems. Simply put, training AI models from higher resolution imagery results in more accurate solutions.

Spexi by the Numbers

• 50,000+ drone missions since inception, with 5,000+ waitlisted drone pilots

• Expansion into 4 countries: Canada, USA, Mexico, and the UK

• 140+ cities imaged with the highest resolution standardized aerial imagery ever produced at scale

• 1.2 million acres of urban area imaged

• 3.7 million ultra-high-resolution aerial images

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Spexi Geospatial is a Vancouver-based technology company revolutionizing Earth imagery through its global network of drone pilots. By utilizing automated drone systems and cutting-edge software, Spexi delivers ultra-high-resolution aerial imagery that is 900 times more detailed than traditional satellite data. This imagery supports organizations and companies in disaster preparedness, smart city planning, infrastructure inspection, resource monitoring, gaming, and countless other AI applications.

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Source: Spexi