Flyability, the Swiss Company building safe drones for inaccessible places, announced today the closing of a 4.3M USD Series A round of investment. The new resources will be used to ramp up production and to expand into new markets.
Flyability has proven that drones are able to reach inaccessible places which are too dangerous or costly to be accessed by humans. Flyability’s technology allows drones to tolerate collisions, navigating complex and confined areas that no other technology can reach without risk of crash or injuries.
The Company is particularly active in the energy production, maritime and oil & gas markets where its drones inspect power plant boilers, tanks, vessels or ballasts among other difficult environments. The Companys customers, including power plant operators, oil & gas majors and inspection companies, benefit from the new technology by reducing downtime, inspection costs, and avoiding human interventions in confined places.
Patrick Thevoz. CEO of Flyability said: 'With this Series A investment we have the resources to significantly ramp up production and meet the growing demand we are facing in our target markets. We are also preparing our expansion into new markets, notably in search & rescue and security, as well as preparing a product more geared towards the mass market."
The investment round was led by the Environmental Technologies Fund, with participation from Go Beyond investing, MKS Alternative Investments, and private Swiss investors.
Robert Cenieser of ETF Partners, manager of the Environmental Technologies Fund said, "Flyability is really taking off and we get a great buzz out of helping them reach for the skies. Great entrepreneurs build great Companies, and the team at Flyability is addressing a serious need to make inspection services better and more efficient.”
(Press release)
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