Flytrex, a Tel Aviv, Israel-based drone technology company, raised $7.5m in Series B funding.
The round, which brought total funding to $11m, was led by Benhamou Global Ventures (BGV) with participation from btov.
The company intends to use the funds to scale-up operations and technology, improving existing drone delivery services in Iceland and North Dakota, and prepare for the 2019 North Carolina launch as part of the U.S. Federal Aviation Authority’s (FAA) Unmanned Aircraft System (UAS) Integration Pilot Program.
Led by Yariv Bash, CEO and Co-Founder, Flytrex provides comprehensive autonomous drone delivery systems that enable any business, from SMBs to e-commerce giants, to integrate same-day autonomous drone delivery into their offering. Its end-to-end drone logistics service offer solutions to facilitate the regulatory process, providing drones, a cloud-based drone management system, insurance and maintenance.
FinSMEs
10/01/2019