Flyability, a Switzerland-based developer of drones for indoor use, has raised $11m in a series B round co-led by Swisscom Ventures, the corporate venturing arm of telecommunications group Swisscom.
The round was co-led by sustainable environment investor ETF Partners and included chemicals producer Dow Chemical, financial trading services provider MKS and angel investment network GoBeyond.
Flyability builds unmanned aerial vehicles to conduct industrial inspections in indoor environments, reducing the risks associated with sending people into potentially dangerous and hazardous environments.
The company is currently active in the oil and gas, energy, maritime, mining and chemical industries where its drones inspect difficult environments such as power plant boilers, tanks and vessels. Its drones are also used in public safety and search and rescue missions to assess emergency situations.
The funding will support investments in 3D mapping, localisation and autonomous navigation technology as Flyability seeks to create more autonomous drones, according to chief technology officer Adrien Briod.
Swisscom Ventures partner Alexander Schläpfer said: “I see Flyability as the trailblazer in the digital transformation of visual inspections and non-destructive testing of large industrial installations and infrastructure.
“Digital transformation is the core investment theme of Swisscom Ventures and we are excited to support Flyability’s further growth and global expansion.”
ETF led Flyability’s $4.3m series A round in 2016, investing alongside MKS Alternative Investments, Go Beyond and assorted private Swiss investors.