fbpx 55093-001: Administration of Equity Investment for Skycatch, Inc. | Asian Development Bank

Regional: Administration of Equity Investment for Skycatch, Inc.

Nonsovereign (Private) Project | 55093-001 Status: Approved

Skycatch's core business is providing industry-leading technology for fast and reliable three-dimensional (3D) drone data capture, processing, visualization, and analysis. Its technology enables infrastructure project clients to improve planning and operational efficiency significantly, thereby cutting costs and lead times and reducing environmental waste and carbon dioxide (CO2) emissions. Skycatch is operating in multiple DMCs, including the Peoples Republic of China, Indonesia, Nauru, the Philippines, and Thailand. The initial target segments include construction and renewable energy industries. Skycatch's global technical support operations, which is an important part of its core business, is currently located in the Philippines. The development impact of Skycatch's technology aligns with ADB's operational priorities to tackle climate change, build climate and disaster resilience, and enhance environmental sustainability in Asia and the Pacific.

Project Details

Project Officer
Mellor, Dominic P. Private Sector Operations Department Request for information
Country
  • Regional
Sector
  • Industry and trade
 
Project Name Administration of Equity Investment for Skycatch, Inc.
Project Number 55093-001
Borrower/Company ASIAN DEVELOPMENT BANK
Skycatch, Inc.
Country Regional
Location Regional
Type or Modality of Assistance
Equity ADB Ventures Investment Fund 1 USD 0.00 Approved
Equity ADB Ventures Investment Fund 1 USD 4.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Industry and trade / Industry and trade sector development

Gender Equity and Mainstreaming Effective gender mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Office of the Director General, PSOD
Responsible ADB Officer Mellor, Dominic P.
Project Sponsor(s)
Description

Skycatch's core business is providing industry-leading technology for fast and reliable three-dimensional (3D) drone data capture, processing, visualization, and analysis. Its technology enables infrastructure project clients to improve planning and operational efficiency significantly, thereby cutting costs and lead times and reducing environmental waste and carbon dioxide (CO2) emissions. Skycatch is operating in multiple DMCs, including the Peoples Republic of China, Indonesia, Nauru, the Philippines, and Thailand. The initial target segments include construction and renewable energy industries. Skycatch's global technical support operations, which is an important part of its core business, is currently located in the Philippines. The development impact of Skycatch's technology aligns with ADB's operational priorities to tackle climate change, build climate and disaster resilience, and enhance environmental sustainability in Asia and the Pacific.

Infrastructure projects. Emerging Asia's infrastructure market will account for about 60% of the world total by 2037.4 The global infrastructure industry is a significant contributor to global CO2 emissions, while facing major challenges in terms of project delays and cost overruns. For example, an estimated 90% of large construction projects face cost overruns (on average 80% higher than original estimates) and schedule delays (on average 20 months). The construction industry accounted for 11% of global CO2 emissions in 2018 and is a major contributor to environmental pollution.

Aerial surveying of infrastructure projects. Drone technology can play a critical role in improving the performance of infrastructure projects in DMCs. Project site supervisors depend on human observations, which are prone to error and often costly. This leads to difficulties in tracking project progress in real time and the early detection of problems. The outcome is often protracted

project delays resulting in massive waste and declines in productivity, efficiency, and profit. The use of drone technology for high-precision aerial surveying and digital 3D mapping of infrastructure projects allows for more accurate, detailed, and frequent tracking throughout the project life cycle. The potential benefits include significant cost and time savings, reduced wastage through smarter use of resources, and improved safety.

Objectives and Scope
Linkage to Country/Regional Strategy
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 17 Dec 2020
Credit Committee Meeting 08 Mar 2021
Approval 25 Mar 2021
Last PDS Update 26 Mar 2021

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Related Publications

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