Investment

Drone Evolution receives £180,000 investment from Wales Angel Co-investment Fund

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The Wales Angel Co-investment Fund, which is part of the Development Bank of Wales, is set to invest £180,000 in Drone Evolution. The first £90,000 of match funding will go to a five-person syndicate investing in Drone Evolution. The joint investment of £180,000 is the first portion of a potential £270,000 investment which will be used to buy drone equipment. The money will also be used to develop the company’s premises, which will also function as a state-of-the-art training facility for the sector. Drone Evolution is a commercial drone services company which says it plans on changing the way businesses
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Flyability looks to future of indoor autonomous inspection after £8.5m round of fundraising

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Flyability has closed its Series B round of funding after raising £8.5m. This now brings the company's total amount of funding to £14.2m since its founding in 2014, investment which the company says will go to planning of indoor autonomous inspection. Flyability’s Series A investor ETF Partners co-led the round together with Swisscom Ventures which joined the round with a significant stake, along with historical investors GoBeyond and MKS. On the investment, Patrick Thévoz, CEO at Flyability, said: “The continued support from ETF and historic investors was instrumental to our success, and we are very proud to see them renewing
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EXCLUSIVE RESEARCH: £170m injected into drone industry this year as investors clamour for a piece of the market

The value of the top 10 largest investments in the drone industry during 2018 exceeds more than £170m, according to exclusive research carried out by Commercial Drone Professional. The scale of funds injected into the industry demonstrates the growing appetite that private investors have for the drone sector and sets a benchmark that will likely be exceeded in 2019. The 10 largest deals uncovered by CDP this year were collectively worth £170.2m and it is this high level of investment that has prompted market research analysts to predict that the commercial drone industry will be worth around £1.5bn by 2022. This rise,
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FLIR receives near £1m development contract from U.S. Department of Defense

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FLIR has been awarded the first option phase on a five-year, cost-plus fixed fee contract by the United States Department of Defense’s Defense Threat Reduction Agency in a deal worth $1.2m (£914,000). The contract sets out a plan for the continued development of the FLIR Agentase C2 chemical agent disclosure spray (ADS) for detection of nerve agents and a new formulation for fentanyl detection. The FLIR Agentase C2 is used to visualise chemical threats on hardened military equipment (HME) for verification that trace amounts of chemicals have been decontaminated, and can also be used to map contamination when responding to
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Starship Technologies embarks on ground-based automated UK robot delivery service

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San Francisco-based company Starship Technologies has introduced its robot delivery service in Milton Keynes. People living in the area will be able to get parcels delivered to a robot depot and will then be notified when the ground-based drone delivers to their door. As part of the move, the firm has teamed up with Co-op to offer a grocery delivery service as well. According to a report from the BBC, residents wanting to use the service may do say via a mobile app. It works via a subscription service which allows users to pay £7.99 per month for an unlimited
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