Orlando-based drone company Hoverfly receives $10M investment
Orlando-based Hoverfly Technologies Inc. received a big investment. The drone company reportedly raised roughly $10.7 million in equity, according to an August 17th filing with the U.S. Securities and Exchange Commission.
Orlando-based drone company Hoverfly receives $10M investment
According to a filing from August 17th with the U.S. Securities and Exchange Commission, Orlando-based Hoverfly Technologies Inc. raised about $10.7 million in equity. The dronemaker has secured more than $20 million in equity and debt since 2016, according to information from the SEC.
The SEC filing does not provide any information on which investors are involved. The Orlando Business Journal did reach out to Hoverfly but its executives could not be reached for comment.
Hoverfly produces tethered drones that can stay in the sky for prolonged periods of time as long as they are connected to a power source. Hoverfly's drones are typically used by defense, media, security, and public safety.
In October 2019, Hoverfly was awarded a $10 million government contract for its LiveSky drones that provide aerial surveillance.
The photo shows Hoverfly's founder and CTO, Al Ducharme on the controls of one of Hoverfly's drones.
Stay in touch!
If you'd like to stay up to date with all the latest drone News, scoops, rumors, and reviews, then follow us on Twitter, Facebook, YouTube, Instagram or…
Subscribe to our Daily Drone News email.*
Submit tips If you have information or tips that you would like to share with us, feel free to submit them here. Support DroneXL.co: You can support DroneXL.co by using these links when you make your next drone purchase: Adorama, Amazon, B&H, BestBuy, eBay, DJI, Parrot, and Yuneec. We make a small commission when you do so at no additional expense to you. Thank you for helping DroneXL grow! FTC: DroneXL.co uses affiliate links that generate income.
* We do not sell, share, rent out or spam your email, ever. Our email goes out on weekdays around 5:30 p.m.
Photo credit Orlando Business Journal / Jim Charchidi
Get your Part 107 Certificate
Pass the test and take to the skies with the Pilot Institute. We have helped thousands of people become airplane and commercial drone pilots. Our courses are designed by industry experts to help you pass FAA tests and achieve your dreams.
FTC: DroneXL.co uses affiliate links that generate income.* We do not sell, share, rent out, or spam your email, ever. Our email goes out on weekdays around 5:30 p.m.
