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Parrot Grows Civil Drone Business

Parrot Grows Civil Drone BusinessParrot states it is continuing to roll-out its strategy of identifying opportunities in the commercial drone sector, focused on three priority markets: precision farming, 3D mapping and surveillance.

Having acquired an initial 21.1 per cent stake in fellow French company Airinov at the end of 2013, Parrot has ramped up its interest to 53.1 per cent.

Airinov, founded in 2010, has developed a sensor and a set of data processing algorithms enabling it to obtain agronomic indicators, providing farmers with data on their crops, enabling them to improve their harvest quality and yields.

Airinov’s Agridrone makes it possible to observe a range of agronomic indicators for plots to the nearest centimetre without having to take destructive samples.

Parrot is also upping its stake in another French company, EOS Innovation, having acquired an initial 33.4 per cent stake at the end of 2013, with Parrot planning to increase its interest by investing in a 2 million euro convertible bond issue.

Parrot is also acquiring all the shares held by Scientipole, an investment fund financing innovative start-ups in the Paris area. Once the bonds have been converted into EOS Innovation shares in 2019, Parrot will hold 68 per cent of EOS Innovation’s capital.

EOS Innovation, founded in 2010, has developed the e-vigilante, a mobile surveillance robot designed to carry out automated patrol rounds, seeking to reduce security costs and risks, while optimising surveillance, aimed in particular at major logistics and distribution firms.

Parrot has sold over 1.5 million drones worldwide, having released the AR.Drone in 2010, which is still one of its best sellers.