A group of investors, including FPIM, the sovereign wealth fund of Belgium, have completed a €17m series-B round for Unifly, a Belgium-based traffic management system for unmanned aircraft.
FPIM, whose full name is Société Fédérale de Participations et d'Investissement-Société Fédérale de Participations (Federal Holding and Investment Company), was founded in 2006.
The round also saw Deutsche Flugsicherung (DFS, the national air traffic control authority of Germany) take part, as well as existing investors Terra Drone (a Japanese corporate), VC fund QBIC and Flemish government fund PMV.
CEO Marc Kegelaers told Unquote sister publication Mergermarket that Unifly was valued at €55m in May this year.
In Q4 2018, German national air navigation service Deutsche Flugsicherung invested an initial €14.6m in Unifly's series-B, Unquote sister publication Mergermaket reported. At the time, the round brought the total amount raised for the business to €21m.
Unifly develops unmanned traffic management (UTM) software for drones. The UTM platform connects authorities with pilots to safely integrate drones into the airspace. Authorities can visualize and approve drone flights and manage no-fly zones in real-time, while drone pilots can manage their drones, and they can plan and receive flight approvals in line with international and local regulation.
The business is a spinout company of Vito (Flemish institute for technological research). It was founded in 2015 and based in Antwerpen.
Unifly – Marc Kegelaers (CEO).
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Sussex Place Ventures, Contour Ventures, Partnership Fund and Outrun Ventures also take part