Industrial Drone Maker Nets Big Investment

Drone maker Flyability has raised EUR 7 million in a recent funding round.

Flyability drone Elios 2
Elios 2 is one of Flyability's indoor inspection drones.

Flyability, an indoor inspection drone company, has raised EUR 7 million in a Series C co-led by Future Industry Ventures and Swisscom Ventures. Existing investor, ETF Partners, is also participating in the round.

Flyability specializes in technology for indoor inspections in the industrial sector. With the investment, Flyability will focus on the development of its products and accelerate global expansion.

Founded in 2014 by CEO Patrick Thévoz and Adrien Briod, Flyability specializes in drone-based B2B solutions for companies with a focus on energy, power generation, chemical, mining and maritime industries. With its technology, the company enables the indoor exploration and inspection of inaccessible and confined spaces.

As a result, safety risks for energy workers can be significantly reduced, as well as labor costs incurred from complex manual inspections. In addition, environmental risks associated with the inspection of critical infrastructures can also be identified and prevented.

During the past six years, Flyability has grown from a spin-off of EPFL in Switzerland to a company with 100 employees conducting indoor research and inspections with drones. The company has offices in Europe and the United States and a network of more than 50 resellers including China and Japan.

Future Industry Ventures, a fund jointly initiated by Redstone and SBI Holdings, acts as a financing platform for Scale-ups, driving connectivity, decentralization, sustainability and security in the industrial space. The aim of the fund is to unlock the potential of European assets and excellent innovation hubs that are shaping the future of industry through technological leadership.

“This financing round represents an important milestone for Flyability,” Thévoz says. “We are developing increasingly complete and complex platform solutions in order to better serve our more than 500 customers worldwide. We are very pleased that FIV, with its unique expertise and network in the field of industrial technology, together with the existing investors Swisscom Ventures and ETF Partners, will be participating in our journey to build a global technology company in our space.”