Aeryon Labs Secures $60 Million in Growth Financing

Posted by Betsy Lillian on October 23, 2015 No Comments
Categories : Business Operations

Aeryon Labs Inc., a Waterloo, Ontario-based manufacturer of small unmanned aircraft systems (sUAS) and mission control software, has closed a $60 million investment from Summit Partners.

This investment will help the company realize its ambitious vision for the sUAS market, which sees widespread adoption across military, public safety and commercial operators worldwide, according to Aeryon.

With customers in over 35 countries, the company says it has experienced profitable organic growth and global expansion across its nine-year operating history. The additional capital from Summit Partners will enable Aeryon to build upon this operational success and accelerate its expansion and delivery of additional capabilities to its core market segments.

“This is a significant milestone for Aeryon Labs,” says Dave Kroetsch, the company’s president and CEO and one of its principal founders. “It validates our technical lead in the market and our ‘aviation not recreation‘ approach to building sUAS – which is quickly making Aeryon a first choice for utility inspectors, first responders and soldiers in the most demanding operational environments.”

Len Ferrington, a managing director at Summit, will join the Aeryon Labs board of directors. Currently investing more than $6.5 billion into equity and fixed-income opportunities, Summit has committed to more than 400 companies in technology, healthcare and other growth sectors.

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