Flyability raises a 4.3M USD Series A
[July, 2016] Flyability, the Swiss company building safe drones for inaccessible places, announced today the closing of a 4.3M USD ‘Series A’ round of investment led by the Environmental Technologies Fund, with participation from Go Beyond investing, MKS Alternative Investments, and private Swiss investors.
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 company’s 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 Thévoz, 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.”
Robert Genieser 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.”
About the Environmental Technologies Fund
The Environmental Technologies Fund is a leading growth capital investment fund, managed by ETF Partners, that invests in some of the most exciting growth companies in Europe. Environmental Technologies Fund supports companies whose products and services deliver a significant environmental and economic benefit.
The team is backed by leading institutional investors and has a great deal of experience gathered over decades of working in growth capital and with environmental companies. See www.etfpartners.capital
Flyability is a Swiss company building safe drones for inaccessible places. By allowing drones to be used safely in cities, inside buildings, and in contact with people, it enables new interactions and services with UAVs and solving the two most critical issues of one of the fastest growing industries: collisions and injury risks. The company’s first market is in industrial inspection where it avoids sending people in dangerous and confined spaces for the inspection of Energy, Heavy Industries, Oil & Gas and Maritime assets. It is also working with Search & Rescue and security professionals to assess emergency situations without putting humans at risk. Flyability is the winner of the 1M USD Drones for Good Award 2015 and over 10 other technology and business prizes.