CyPhy Works Closes $7M Financing Round

Published On November 6, 2013 |

cyphyworksCyPhy Works, a Danvers, MA-based developer of advanced Unmanned Aerial Vehicles (UAVs), closed a $7m financing round.

The round was led by Lux Capital, with participation from General Catalyst Partners, Felicis Ventures and undisclosed angel investors. As part of the financing, Lux Capital Partner Bilal Zuberi will join CyPhy Works’ board of directors.

Led by Helen Greiner, CEO, CyPhy Works is a robotics company developing Unmanned Aerial Vehicles for commercial, civil and defense applications.
To date, the company has released two products: EASE (indoor hovering robot) and PARC (outdoor multicopter platform).

CyPhy intends to use the funds to expand its development and deployment of UAVs in surveying and situational awareness for commercial sectors such as agriculture, mining, construction, oil & gas, insurance, infrastructure, and others.

FinSMEs

06/11/2013

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