Spexi Secures $11.5M to Scale Global Drone Imagery Network

Drone imagery startup Spexi has raised $11.5 million in Series A funding to expand its network of pilots capturing ultra-high-resolution aerial data. Led by Blockchange Ventures, the funding validates Spexi’s innovative approach to building a standardized global imagery database that delivers 900 times the detail of traditional satellite imagery at significantly lower costs.

The Vancouver-based company has developed a “Fly to Earn” blockchain-based platform that enables drone pilots to collect standardized aerial imagery across precisely defined 24-acre hexagonal plots. Using sub-250g drones equipped with Spexi’s autopilot software, pilots follow automated flight paths while built-in safety systems prevent collisions and ensure data quality.

“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.

Since its seed round in late 2022, Spexi has expanded operations across Canada, the United States, United Kingdom, and Mexico. The company reports completing over 50,000 drone missions and imaging more than 140 cities, building what it claims is the largest standardized ultra-high-resolution drone imagery database. This rapid growth has attracted government agencies, insurance companies, and technology firms seeking alternatives to traditional aerial and satellite imagery.

Ken Seiff, Managing Partner at Blockchange Ventures, sees Spexi defining an entirely new market category:

“The widespread ownership of drones and their high resolution cameras was bound to obsolete the massive existing market for expensive, low resolution, satellite imagery. Spexi has defined a new category of business by pairing better and cheaper drone imagery with the blockchain’s ability to ensure image integrity.”

The company’s emphasis on standardization and data quality positions it to serve emerging applications in autonomous systems, smart infrastructure, and augmented reality gaming. The ultra-high-resolution imagery is particularly valuable for AI model training, where data quality directly impacts solution accuracy.

Spexi’s platform also addresses growing demands for rapid response capabilities in disaster management and environmental monitoring. Traditional aerial imagery methods often fail to deliver the timely, detailed data needed for critical operations like evacuation planning, infrastructure inspection, and Wildfire prevention.

The environmental impact of Spexi’s approach stands in stark contrast to conventional aerial photography methods. By utilizing small drones operating on preset flight paths, the company achieves near-zero emissions while delivering superior resolution imagery.

With over 5,000 pilots currently waitlisted to join the network and 3.7 million ultra-high-resolution images already captured across 1.2 million acres, Spexi appears well-positioned to scale its operations further. The Series A funding should accelerate platform development and network expansion as demand grows for high-quality geospatial data across industries.

The success of Spexi’s standardized imagery network could mark a significant shift in how aerial data is collected and utilized, particularly as applications in AI, urban planning, and emergency response continue to evolve. However, the company will need to navigate complex regulatory environments across different jurisdictions while maintaining data quality as its pilot network expands.