Kestrel Survey closes Series A

Kestrel has raised a Series A led by Barlow, with participation from two existing utility customers. The capital will fund a second flight base in the upper Midwest and a software hire.

We led Kestrel's seed in 2020 and have worked with the founders, Hana and Jules, since then. The business is unusual: it pairs an operating service—surveys flown out of a small airfield in Indiana—with a software product that runs on the data the aircraft collect. Both halves are growing.

We expect the business to continue to look this way for some time. Most of our portfolio does.