CyPhy Works, an unmanned aerial vehicle (UAV) developer, has closed a $7 million financing round led by Lux Capital, with participation from General Catalyst Partners, Felicis Ventures and several undisclosed angel investors.
CyPhy notes that as part of the financing, Lux Capital Partner Bilal Zuberi will join the CyPhy board of directors.
According to the company, CyPhy has developed a technology platform of flying robots for applications in the military, civil and commercial sectors. The company has so far announced two products on its platform: EASE (indoor hovering robot) and PARC (outdoor multicopter platform).
As part of this funding round, the company says it will expand its development and deployment of UAVs in surveying and situational awareness for commercial sectors that include agriculture, mining, construction, oil and gas, insurance, infrastructure, and others.
“The opportunity to bring flying robots (i.e., UAVs) to commercial sectors for imaging, surveying, mapping, monitoring and other applications is truly exciting,” says Helen Greiner, CEO of CyPhy. “We are building a reliable and robust platform that is differentiated from hobbyist-class UAVs and is specifically designed for field operations in rough real-world conditions.”
