Asian Surveying & Mapping
Breaking News
Building in Bangkok collapses as powerful earthquake hits southeast Asia
One person has died and 50 were injured in...
Bellatrix Aerospace Partners with Astroscale Japan for Space Debris Removal
Bellatrix Aerospace, a Bengaluru-based space mobility company, has joined...
NSTC announces Pingtung site as Taiwan’s space mission launch center
Taipei, March 26 (CNA) Taiwan's National Science and Technology...
ISRO-NASA mission to send Indian astronaut to ISS faces budget cut
New Delhi: The ISRO-NASA mission to send an Indian...
China launches new data relaying satellite into space
China successfully launched a new data relaying satellite into...
China unveils first homegrown space mining robot
China's first space mining robot has been developed by...
North Korea rejects G7 call for denuclearization, vows to ‘strengthen’ nuclear forces
North Korea on Monday vowed to "steadily update and...
Taiwan showcases innovative technologies at Satellite 2025
Innovative technologies are on display at the Taiwan Space...
Japanese Astronaut Onishi departs with three others for 2nd Space Mission
Takuya Onishi has left for space for his second...
Saudi Arabia, Korea Sign Memorandum of Cooperation to Enhance Space Collaboration
Riyadh, SPA: The Saudi Space Agency (SSA) today signed...

January 10th, 2019
Flytrex Raises $7.5 Million to Expand On-Demand Drone Delivery Across the U.S.

(Tel Aviv) – Leading drone technology company Flytrex announced today that it has raised $7.5 million in Series B funding, bringing the company’s total to $11 million. The round is led by Benhamou Global Ventures (BGV) with additional investment from btov. The funds will be used to scale-up Flytrex’s operations and technology, improving existing drone delivery services in Iceland and North Dakota, and prepare for the company’s 2019 North Carolina launch as part of the U.S. Federal Aviation Authority’s (FAA) Unmanned Aircraft System (UAS) Integration Pilot Program.

“Drone delivery is taking off, and we are delighted that BGV and btov will be joining us in making drone deliveries a global reality,” said Yariv Bash, CEO and Co-Founder of Flytrex. “This investment is a vote of confidence in Flytrex’ ongoing success propelling the drone industry forward and in our vision of making UAV delivery the rule rather than the exception.”

Since launching the world’s first fully autonomous urban drone delivery system in Reykjavik in 2017 and the first fully operational golf course drone delivery system in the U.S. in North Dakota last year, Flytrex has continued to help the industry reach new heights. Flytrex’s patented “InAir” wire-drop system, for example, employs a tethered cord that gently lowers the package to the ground after the customer confirms on Flytrex’s phone app that they are in position nearby – maximizing safety and drastically lowering noise-pollution (watch here).

Flytrex’s solution represents a boon for smaller and mid-sized retailers looking to keep pace with the e-commerce giants, as they now have access to an affordable and efficient drone-based service that will meet consumers’ ever-growing demand for faster deliveries.

“BGV prides itself on championing the next class of groundbreaking entrepreneurs and visionaries, and the team piloting Flytrex fits the bill perfectly,” said XX of BGV. “Their technological knowhow and impressive track record of bringing commercial drones to new global markets puts them squarely in the pilot’s seat of the drone revolution. This investment supports the growing recognition that drones represent a far more cost-effective, efficient, safe and environmentally friendly form of last-mile transportation. We believe that with Flytrex, the sky’s the limit.”

About Flytrex

 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. From facilitating the regulatory process to providing the drones, a cloud-based drone management system, insurance and maintenance, Flytrex is an end-to-end drone logistics service spearheading the drone revolution. Headquartered in Tel Aviv, the Flytrex team has 50+ years aerospace and defense experience.