Flybotix innovation seduces investors

Thanks to its novel propulsion system consisting of two propellers, Flybotix drones can fly twice as long. This innovation has enabled the Vaud based venture to recently close a seed round of CHF 1.5 mio. The company revealed its first prototype on EPFL's first page last year and during CES Asia in June 2020. As Flybotix’s CEO Samir Bouabdallah explains this basically launched the fund raising campaign. In fall 2019, the team intensified its efforts and entered due diligence phase. The round was closed early march 2020.

A large industrial group among the investors

The company could attract several important investors. The deal was signed with a large industrial group and private investors, not representing necessarily a so called strategic investment. The funds will be used to further develop the technology and bring it to a market ready product.

Flybotix builds professional inspection drones that operate inside industrial assets. Shut down for inspection of oil & gas plants is very costly. In this context, drones start to be a solution, but flight time is a strong limitation. Flybotix doubles the flight time of compact drone thanks to its unique technology. The product is suitable for indoor visual inspection of oil and gas assets and industrial plants in general.

Speaking of the future, the startup based at EPFL Innovation Park plans to further develop the technology and the product to bring it to market. Incorporated in January 2019, the growing company is presently looking for its business development manager to join the team and employs already 7 persons.

(ES)

Photo by Alain Herzog