Wingtra founders Basil Weibel, Maximilian Boosfeld and Elias Kleimann
“The world’s resources are extremely limited and there is so much waste,” warns Maximilian Boosfeld, CEO and co-founder of Zurich-based Wingtra, the world’s largest manufacturer of commercial vertical take-off and landing (VTOL) drones. “We are on a mission to help manage the world’s assets more sustainably and efficiently.”
That mission will be expanded following today’s announcement that Wingtra has raised $22 million in new investment to help the company accelerate its growth. The series B round, completed six years after the company launched in 2017, is a vote of confidence in the company’s breakthrough technology.
Wingtra’s VTOL technology allows the drones to operate in even the most difficult areas, including confined spaces. The drones also include powerful imaging technology that allows users to examine the ground below in remarkable detail. The company has also developed software that converts the collected data into 2D and 3D maps, and has partnered with customers in industries such as construction, engineering, mining and transportation.
To give some context, Boosfeld says the most advanced satellite cameras can now produce images where each pixel is about 3,250 centimeters in size. Wingtra’s technology, on the other hand, delivers images of 1-2 centimeters per pixel. “We see a coin lying on a football field,” he explains.
The applications of such technology are widespread and constantly evolving. In the US, for example, transportation officials use Wingtra’s drones to survey highways and other highways, checking the network for wear and tear so it can be maintained and kept open. The Army Corps, meanwhile, is flying drones over US levees and levees to check for potential problems and breaches.
Elsewhere, construction companies are using the technology to map construction sites in much greater detail than ever before, enabling projects to be planned and managed with much greater precision. Mining companies – and environmental groups – use the drones to monitor extraction and land use. Private sector clients range from mining giant Rio Tinto to building materials specialist CEMEX.
In partnership with such customers, Wingtra’s drones now perform more than 100,000 flights per year and have so far mapped 18 million hectares of land and sea, the equivalent of 13.6 million pitches.
Much of this work would traditionally be done manually, Boosfeld explains, requiring organizations to send teams of surveyors to often remote and inaccessible locations. “We reduce the time it takes to complete a survey by 90% or more compared to a manual approach,” he says. “Users get the data they need faster and more accurately, enabling them to make better decisions.”
It’s not just time that Wingra helps customers save. “Our vision is to create a world where drones help people manage large parts of our planet more sustainably and efficiently,” explains Boosfeld. Equipped with more detailed photos and models, users will be able to work out work much more effectively and allocate only those resources that are actually needed for projects. In addition, the imaging can be used to keep companies honest when using land and other assets.
The company has grown rapidly since its launch. Wingtra started as a thesis for Boosfeld and co-founders Basil Weibel, Elias Kleimann and Sebastian Verling, who came together at ETH Zurich, one of Europe’s leading robotics universities. It now employs about 200 people and its drones are used in 96 countries around the world; sales were boosted in summer 2021 with the launch of the second generation of the product, which brings additional functionality and improvements.
The company’s Series B round should help the company capitalize on this early success. “This is still a nascent market, so we continue to develop new use cases and products,” says Boosfeld. The company has plans for major expansion in the US, as well as other markets worldwide. It is also making a series of appointments to strengthen its leadership team in areas such as operations, sales, product development and personnel.
The $22 million in funding comes from investors including DiamondStream Partners, EquityPitcher Ventures, Verve Ventures, Ace & Company and the European Innovation Council Fund, ACE & Company, as well as a number of individual business angels and entrepreneurs.
“The company’s simplicity of use, highly reliable engineering and global network of resellers and service providers have positioned it to extend its leadership in the $83 billion map segment of the air intelligence market globally,” said DiamondStream. Partners. director Dean Donovan. “We look forward to helping the company in the US and Latin America, which will become increasingly important geographies as Wingtra continues to expand.”
Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.