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SwissDrones raises $10m for pipeline monitoring

SwissDrones raises $10m for pipeline monitoring

Business news |
By Nick Flaherty



SwissDrones has raised $10m to boost its production of drone helicopters and data analytics platform.

The Series B funding for SwissDrones comes from a consortium of investors including aviation investor DiamondStream Partners, oil company Chevron Technology Ventures, Ingleside Investors, and a continued commitment from existing shareholders.

The combination of long-range unmanned helicopters, aviation-grade flight operations and large-scale data analytics are used for public safety, search & reconnaissance and inspection of infrastructure such as oil pipelines and the electricity grid.

“We are excited to close this round with such high caliber investors now joining our growth journey. The proceeds will be deployed to further expand our global footprint to address the tremendous market demand for our integrated solutions from corporates and public sector entities around the world,” said Ulrich Amberg, CEO of SwissDrones.

Heavy lifting drone startup raises €6.7m

“With a solution that is designed to gather data more efficiently at lower cost and with less risk to workers, SwissDrones can enable advanced field operations and improved safety,” said Jim Gable, Vice President of Innovation in Chevron’s Technical Centre and President of Technology Ventures at oil company Chevron.

“This is the latest investment from our Core Fund, which focuses on high-growth startups and breakthrough technologies that have the potential to improve Chevron’s core oil and gas businesses, as well as create new opportunities for growth.”

DiamondStream Partners invests in aviation and aerospace related companies targeting aerial solutions, unmanned systems, and supporting elements of the value chain. The team has decades of experience in aviation and aerospace in leadership positions, senior advisory roles and as investment principals. For more information, please visit .

www.swissdrones.com.; www.chevron.com/technology/technology-ventures; www.diamondstreampartners.com;

 

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