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.

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Photo credit Orlando Business Journal / Jim Charchidi

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Haye Kesteloo

Haye Kesteloo is a leading drone industry expert and Editor in Chief of DroneXL.co and EVXL.co, where he covers drone technology, industry developments, and electric mobility trends. With over nine years of specialized coverage in unmanned aerial systems, his insights have been featured in The New York Times, The Financial Times, and cited by The Brookings Institute, Foreign Policy, Politico and others.

Before founding DroneXL.co, Kesteloo built his expertise at DroneDJ. He currently co-hosts the PiXL Drone Show on YouTube and podcast platforms, sharing industry insights with a global audience. His reporting has influenced policy discussions and been referenced in federal documents, establishing him as an authoritative voice in drone technology and regulation. He can be reached at haye @ dronexl.co or @hayekesteloo.