FlyGuys Funding $10 Million Collection A

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DJI drone LiDAR, FlyGuys fundingLouisiana based mostly drone providers supplier FlyGuys has scored a $10 million Collection 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 shoppers in a variety of industries together with agriculture, tower firms, energy, mining, and building.  Providers embrace LiDAR, inspection, mapping, and extra.

FlyGuys says they may 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 had been intrigued by the modern nature of the corporate and its early development in a fast-growing business,” mentioned J.P. Lynch, Vice President, Benefit Capital. “At the moment, we’re desperate to see what’s subsequent for the corporate and assured it is going to proceed to make strides as a number one actuality knowledge seize firm whereas additionally creating high quality jobs in the area 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 modern, technology-driven enterprise that constantly delivers distinctive worth to their shoppers.”

Below the management of Joe Stough, CEO of FlyGuys, the corporate has undergone a exceptional transformation over the previous 12 months. Stough acknowledged, “Since I stepped in from the Board Chairman position a 12 months 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 direction of the creation of a extremely scalable, cloud-based platform designed to attach the demand throughout numerous vertical markets, reminiscent of building, agriculture, inexperienced vitality, telecommunications, insurance coverage, and extra, with our in depth 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 affect by creating jobs regionally in every single place within the nation.”

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