The Urban Drone Delivery Pioneers
Tel Aviv-based Flytrex, a drone technology company, has raised $7.5m in a Series B funding round led by Benhamou Global Ventures, bringing the company’s total funding to $10.5m.
Founded in 2013 and led by Yariv Bash and Amit Regev, Flytrex enables businesses of all sizes to integrate same-day autonomous drone delivery into their offering. The company offers an end-to-end solution – facilitating the regulatory process, providing the drones, a cloud-based drone management system, along with insurance (the company works with Marsh) and maintenance.
In 2017, Flytrex launched the world’s first fully autonomous urban drone delivery system in Reykjavik, reducing delivery times from 25 minutes to 4 minutes. The company uses their patented ‘InAir’ wire-drop system where a tethered cord lowers the package to the ground after customers confirm via the Flytrex’s mobile app that they are in a position nearby.
Flytrex is also operational in the US – the company partnered with King’s Walk Golf Course in North Dakota for replacing the traditional beverage cart, “serving golfers all the way to the 18th hole.”
“Drone delivery is taking off, and we are delighted that BGV and btov will be joining us in making drone deliveries a global reality. 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.” – CEO and Co-Founder of Flytrex, Yariv Bash.
“BGV prides itself on championing the next class of groundbreaking entrepreneurs and visionaries, and the team piloting Flytrex fits the bill perfectly. 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.” – Managing Partner, BGV, arak Ben-Avinoam.
