SkyX, a Toronto, Canada-based aerial data solutions provider, received an investment from Drone Fund, an investment firm based in Tokyo that specializes in investing globally across the drone space, including aerial mobility, drone technologies and DaaS solutions.
This marks SkyX’s third capital raise since the company was founded in 2015. The amount of the deal was not disclosed.
The company intends to use the funds for expansion into new markets in Asia, the Middle East and Africa and verticals beyond the energy sector.
Led by Didi Horn, Founder & CEO, SkyX provides a Data-as-a-Service (DaaS) solution which allows asset operators in the energy sector to capture high-quality aerial data to develop a predictive analytics model to effectively protect critical infrastructure. By integrating Artificial Intelligence (AI) with purpose-built aerial systems, SkyX sources and delivers actionable data to commercial and government agencies in applications ranging from inspection of midstream oil and gas, power and rail assets to border patrol and emergency search and rescue. Equipped with this intelligence, organizations can make intelligent and informed decisions with regards to the health of their aging infrastructure, mitigate risks associated with having remote assets and reduce maintenance and insurance costs.