Drone Fleet Management Startup vHive Raises $5.5 Million

Drone fleet management startup vHive Ltd. has raised a $5.5 million funding round, the company announced Wednesday. The round was led by Octopus Ventures with participation from existing investor StageOne Ventures.

Founded in 2016 and based in the central Israeli town Herzliya, vHive develops cloud and AI-based software for managing drone fleets in a variety of industries, including agriculture and construction. The company has raised $7.5 million to date, according to Pitchbook data.