1776 NYC is home to more than 40 startups solving problems that impact critical industries, from energy to smart cities. This week we’re excited to highlight 1776 NYC Member AeroAnalytics, talking to CEO Andy Perez-Benzo.
What is AeroAnalytics and what problem do you solve?
AeroAnalytics executes aerial surveys and industrial inspections with drones. We work with governments and industrial clients with expansive infrastructure, providing them with full service delivery, from sourcing pilots and executing drone flights to processing 3D data and delivering analytics.
What is your personal background? What led you to launch AeroAnalytics?
I had my first taste of the startup world working at Uber directing expansion in New England and eventually supporting early launches in Latin America. I wanted to get exposure to a lot of industries early in my career, so I left for IBM to work on projects that took advantage of my math background at Princeton. At IBM Research I got a spot on a project where we were using drones to help optimize crop yields for farmers back in 2014. That’s when I realized that drones would open up a huge field of commercial applications, and going after construction and mining made a lot of sense because you have a limited number of players going after high margin contracts with multinationals. We’ve scored contracts with some great clients since we started in 2015.
What’s the biggest misconception about drones?
That they’re easy to use. A really good drone service provider has the same rigor around flight execution as an airline pilot has around his aircraft. Just in the U.S. flying for commercial purposes requires 5 different kinds of insurance, meeting FAA regulations, coordinating with multiple aircraft control centers, setting up ground control, monitoring weather patterns, etc. This is why multinationals hire drone service providers like us.
How will drones feature in automation and the future of work?
Drone hardware and data platforms are automating both the way flights are executed as well as how data is analyzed. Most drones are capable of autonomously flying a pre-defined flight path after a few touches on an iPhone. The most interesting automation at the moment is occurring on the software side, where artificial intelligence and machine learning techniques are being used to immediately detect defects like corrosion and structural anomalies.
What’s it like to be part of the 1776 NYC community?
Some of the best contracts we’ve closed have originated directly from interactions with the managers of 1776 campuses in Brooklyn, Dubai, and D.C. We’ve found an extraordinary support structure with 1776 facilitating introductions and creating opportunities like the 1776 DEWA Future Utility Cup, which led directly to investment and a contract with the Dubai Electricity and Water Authority, giving us a firm foothold in the Middle East.
What’s next for the drone industry?
Drone startups are beginning to see that they have to make a bet one way or the other. Either they become service providers to whom industrial clients will outsource both flights and data processing, or they become pure data platforms that partner with providers and their clients’ in house drone teams. There’s already been a lot of consolidation within the world of drone service providers as smaller ones fail or get bought up by more successful groups. AeroAnalytics has managed to thrive by working with governments and multinationals that have provided very strong references and network effects for us. I think the major drone data platforms like Propeller and DroneDeploy have firmly established themselves as leaders, and that 2017 will see them race to test their go-to-market strategies.
Does your startup solve problems in education, energy, food, health or smart cities? 1776 NYC members gain access to workshops, mentors, networking opportunities and vibrant workspace. Learn more and apply for our next cohort at 1776.nyc.
