CyPhy Works, a Danvers, MA-based drone company and developer of advanced unmanned aerial vehicles (UAVs), received an investment from Draper Nexus.
The terms of the investment were not disclosed.
The funds will support hiring in the areas of data management and analytics, commercial partnerships, product management and mechatronics.
Led by Helen Greiner, CEO, and Kristen Helsel, VP commercial systems, CyPhy Works has developed a drone technology and business roadmap that leverages a “microfilament tether” to enable long-duration or persistent flight with streaming of high-speed data and high-definition video.
The company, which currently has released two products: PocketFlyer and PARC, recently announced a strategic investment and partnership with Motorola Solutions. Other backers include Lux Capital, General Catalyst and Felicis Ventures.
FinSMEs
21/05/2015