Zurich-based drone developers Wingtra has raised €9 million in its Series A round, led by Credit Suisse Entrepreneur Capital and Investiere, with participation from existing investors. The startup will use the fresh capital to further expand its global growth and continue to push the limits in drone research and development.
Since its inception in 2014, Wingtra has become a leader in the drone industry. The startup develops and commercializes high-precision virtual take-off and landing (VTOL) drones, which collect survey-grade aerial data. Their drones are battery-powered and can fly for one hour, and up to 60 km.
Wingtra’s main project is the development and optimization of its unique WingtraOne drone. Part multicopter, part unmanned aerial vehicle (UAV), it has vertical take-off and landing (VTOL) capabilities and can travel long distances. These features mean it can carry lightweight high-resolution mapping cameras or small payload deliveries to rural areas.
Elias Kleimann, Founder and CFO at Wingtra, said about the investment: “With the funds raised, we’ll scale up our operations, expand our sales globally and improve our outstanding product to advance the aerial survey and mapping industry.”
The global growth is in line with the expansion of the firm over the past two years. Since 2017, the number of employees has more than doubled, from 30 to more than 70. The sales figures have also rocketed. After launching sale of WingtraOne, the company has expanded to markets in over 40 countries around the world. The startup has also partnered with more than 50 of the biggest survey equipment dealers worldwide and formed a strong user base.
“We see high-growth potential with Wingtra due to the multiple impressive technological advancements across a range of dimensions, setting it apart from its competitors,” said Didier Denat, Chairman of Credit Suisse Entrepreneur Capital Ltd. and Head of Corporate & Investment Banking at Credit Suisse in Switzerland. “The attractive and fast-growing market of VTOL drones, together with the company’s recent key hires, will provide an outstanding setting for the company’s future growth.”