FuVeX raises €3M to scale dual-use drone technology across Europe
Spanishdrone technology company FuVeX has raised €3 million in an oversubscribedfunding round to accelerate its commercial and international expansion andstrengthen its position in the European dual-u...
Spanish drone technology firm FuVeX has secured €3 million in a highly subscribed funding round, aiming to bolster its commercial and international growth within the European dual-use drone sector. The investment round attracted participation from SODENA, SEGO Venture, Izertis Ventures, and several family offices specializing in industrial, agricultural, and innovation sectors.
FuVeX, founded in 2013 by Carlos Matilla, manufactures, operates, and develops long-range drones for civil and defense purposes, leveraging an AI-powered analytics system to automate inspection and monitoring of vital infrastructure. The company has achieved significant success in the energy industry, conducting surveys on over 36,000 kilometers of power lines for UFD, Naturgy's electricity distributor, and Endesa.
Their dual-use technology enables Beyond Visual Line of Sight (BVLOS) operations up to 10 kilometers, significantly cutting inspection times, operational costs, and worker exposure to hazardous environments. FuVeX plans to extend its reach to agriculture, oil and gas, and other essential infrastructure sectors throughout Europe and Latin America.
The company has additionally received €400,000 in public funding from Spain's Centre for the Development of Industrial Technology (CDTI) to bolster a defense research and development project. Carlos Matilla, FuVeX's CEO and founder, highlighted the funding as a testament to investor confidence in both the company's technology and its objective to bolster Europe's strategic autonomy by producing, manufacturing, and operating drones within the continent.
The investment will be channeled towards expanding commercial and defense operations, fortifying technology, industrial, and commercial teams, increasing manufacturing and operational capacity, and accelerating international growth. FuVeX will also dedicate resources to research and development to enhance drone systems for defense, security, and critical infrastructure applications.
Written by urgent.news from Tech.eu's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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