PrecisionHawk, a company that builds unmanned aerial vehicles equipped with cameras and sensors that can be used for surveying terrain, has raised $10 million in a second round of institutional funding. Millennium Technology Value Partners led the investment. Red Hat co-founder Bob Young also participated in the round, along with the Innovate Indiana Fund. PrecisionHawk was founded in 2010 by Ernest Earon and Christopher Dean. The company previously raised $1 million in seed funding.

[Image courtesy: PrecisionHawk]