Louisiana based drone services provider FlyGuys has scored a $10 million Series A funding round to scale their SaaS solutions platform and expand their nationwide presence.
It’s a positive indicator for the US drone industry. Founded in 2014, early player FlyGuys has a nationwide presence, serving enterprise clients in a big selection of industries including agriculture, tower corporations, power, mining, and construction. Services include LiDAR, inspection, mapping, and more.
FlyGuys says they’ll use the funding round to extend capability and strengthen their market reach.
“The round was led by outstanding investors who’ve recognized FlyGuys’ commitment to using software as a service to attach data-seekers with data providers. Among the many financiers, Mitchell Capital and Advantage Capital, who’ve made previous investments toward the expansion of FlyGuys, have returned to fortify the corporate’s vision further,” says an organization release.
“After we first invested in FlyGuys in 2021, we were intrigued by the revolutionary nature of the corporate and its early growth in a fast-growing industry,” said J.P. Lynch, Vice President, Advantage Capital. “Today, we’re wanting to see what’s next for the corporate and assured it should proceed to make strides as a number one reality data capture company while also creating quality jobs in the local people.”
Paul Tyree, CEO of Mitchell Capital, shared his perspective on the investment: “Our enthusiasm for backing FlyGuys is grounded in our faith within the expertise and vision of their management team. They’re constructing an revolutionary, technology-driven business that consistently delivers exceptional value to their clients.”
Under the leadership of Joe Stough, CEO of FlyGuys, the corporate has undergone a remarkable transformation over the past 12 months. Stough stated, “Since I stepped in from the Board Chairman role a 12 months ago, we’ve been reshaping FlyGuys’ business model to satisfy the necessity for a nationally scaled online marketplace for reality data capture. We’re channeling this latest capital infusion towards the creation of a highly scalable, cloud-based platform designed to attach the demand across various vertical markets, corresponding to construction, agriculture, green energy, telecommunications, insurance, and more, with our extensive network of local data capture providers, predominantly comprised of drone pilots, spanning every state within the nation. I’m excited to work with this talented and motivated team to bring one other tech startup to Louisiana and make an impact by creating jobs locally all over the place within the nation.”
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