Technology: Southeast News

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Posted October 02, 2020

5×5 Technologies Inc., a St. Petersburg-based spatial computing company, has closed on the first tranche of funding in a $6 million capital raise.

Safar Partners, a Boston-based venture fund, is leading the capital raise and provided $3 million in equity funding.

That funding, combined with a Jump Start award from Amazon Web Services, will allow 5×5 to accelerate its core technology, integrating machine learning and artificial intelligence, said Anne Zink, CEO and co-founder.

5×5 works with drone operators to provide precise data to telecommunications carriers and cell tower owners about their assets. Those assets, such as telecom equipment and tower structural details, historically could only be measured by a worker climbing a tower to do a survey. But tower climbing ranks among the most dangerous jobs in America, according to the U.S. Occupational Safety and Health Administration, responsible for between 13 and 15 deaths each year.

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