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Drone startup funding crashes

Drone startups hoping to snag venture-capital funding may have hit some turbulence.

Financing for drone companies fell 59% year-over-year in the third quarter, and 48% from the previous quarter. The drone industry’s numbers were starker than for venture-capital funding overall, in which funding dollars fell 39% from the same quarter in 2015 and 14% sequentially.

That’s according to the latest Venture Pulse report, a quarterly global report on VC trends published jointly by KPMG International and CB Insights. The data tracks VC-backed deals and dollars for companies worldwide.

There was $55 million invested in eight VC deals for the drone industry in the third quarter, compared with almost $106 million invested in 13 deals in the second quarter.

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