Drone company Flyability raises EUR 7 million to accelerate its global expansionMonday 11 January 2021
The Vaud-based indoor inspection drone company and EPFL spin-off, Flyability, has raised EUR 7 million to accelerate its global expansion.
Since its foundation in 2014, Flyability has grown to become the leading indoor inspection drone company with over 500 customers, 100 employees and a network of over 50 resellers worldwide.
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.
With the EUR 7 million investment from its series C round, Flyability will focus on the development of its market-leading and innovative products and accelerate global expansion. Future Industry Ventures (FIV), a fund jointly initiated by Redstone and SBI Holdings, acts as a financing platform for scale-ups, and Swisscom Ventures co-led the round with participation from existing investor, ETF Partners.
From EPFL spin-off to global market leader
“This financing round represents an important milestone for Flyability”, says Patrick Thévoz, CEO of Flyability. “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.”
Based in Lausanne in the canton of Vaud, Flyability has grown from a spin-off of EPFL to a global market leader serving over 500 customers in more than 50 countries, which are active in industries such as power generation, oil and gas, chemicals, maritime, infrastructure and utilities, and public safety.