vHive, a Tel Aviv, Israel-based software solution that enables enterprises to deploy autonomous drone hives to create Digital Twins of their assets, announced that it secured $25 million in Series B funding.
The round was led by PSG, with participation from previous investors Octopus Ventures and Telekom Innovation Pool (TIP), Deutsche Telekom's strategic investment fund advised by DTCP, also participated in the round.
With this funding, vHive aims to further accelerate the company's expansion of its global customer base and enable it to scale up operations in key markets. Also intended to help bolster vHive's enterprise digitization platform market leadership and product offerings.
Ronen Nir, Managing Director at PSG, has joined vHive's board of directors.
Company: vHive Tech Ltd.
Raised: $25.0M
Round: Series B
Funding Month: April 2022
Lead Investors: PSG
Additional Investors: Octopus Ventures, Telekom Innovation Pool (TIP), and Deutsche Telekom's strategic investment fund
Company Website: https://www.vhive.ai/
Software Category: Autonomous Digital Twin Software Solution
About the Company: vHive is a global leader in Digital Twin software solutions. vHive is the only software solution that enables enterprises to deploy autonomous drone hives to create digital twins of their assets. vHive accelerates enterprises' continuous digital transformation, enabling them to make better decisions based on accurate field data, analytics, and insights. vHive is a leading software solution that enables enterprises to deploy autonomous drone hives to digitize their field assets and operations. vHive is making an impact in a variety of industries by seeking to dramatically cut operational costs, generate new revenue opportunities and boost employee safety.
Source: https://www.prnewswire.com/news-releases/vhive-raises-25-million-in-series-b-led-by-psg-301517505.html