FlyGuys Funding $10 Million Sequence A

DJI drone LiDAR, FlyGuys fundingLouisiana based mostly drone companies supplier FlyGuys has scored a $10 million Sequence A funding spherical to scale their SaaS options platform and develop their nationwide presence.

It’s a constructive indicator for the US drone business.  Based in 2014, early participant FlyGuys has a nationwide presence, serving enterprise purchasers in a variety of industries together with agriculture, tower firms, energy, mining, and building.  Companies embrace LiDAR, inspection, mapping, and extra.

FlyGuys says they are going to use the funding spherical to extend capability and strengthen their market attain.

“The spherical was led by distinguished buyers who’ve acknowledged FlyGuys’ dedication to utilizing software program as a service to attach data-seekers with knowledge suppliers. Among the many financiers, Mitchell Capital and Benefit Capital, who’ve made earlier investments towards the expansion of FlyGuys, have returned to fortify the corporate’s imaginative and prescient additional,” says an organization launch.

“After we first invested in FlyGuys in 2021, we have been intrigued by the revolutionary nature of the corporate and its early progress in a fast-growing business,” mentioned J.P. Lynch, Vice President, Benefit Capital. “In the present day, we’re wanting to see what’s subsequent for the corporate and assured it can proceed to make strides as a number one actuality knowledge seize firm whereas additionally creating high quality jobs in the local people.”

Paul Tyree, CEO of Mitchell Capital, shared his perspective on the funding: “Our enthusiasm for backing FlyGuys is grounded in our religion within the experience and imaginative and prescient of their administration group. They’re establishing an revolutionary, technology-driven enterprise that persistently delivers distinctive worth to their purchasers.”

Underneath the management of Joe Stough, CEO of FlyGuys, the corporate has undergone a exceptional transformation over the previous yr. Stough acknowledged, “Since I stepped in from the Board Chairman function a yr in the past, we’ve been reshaping FlyGuys’ enterprise mannequin to satisfy the necessity for a nationally scaled on-line market for actuality knowledge seize. We’re channeling this new capital infusion in the direction of the creation of a extremely scalable, cloud-based platform designed to attach the demand throughout varied vertical markets, similar to building, agriculture, inexperienced vitality, telecommunications, insurance coverage, and extra, with our intensive community of native knowledge seize suppliers, predominantly comprised of drone pilots, spanning each state within the nation. I’m excited to work with this proficient and motivated group to carry one other tech startup to Louisiana and make an impression by creating jobs domestically all over the place within the nation.”

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