Spanish drone developer Fuvex raises €1.7 million to fly high across Europe’s inspection skies

Spanish drone developer Fuvex has secured €1.7 million in its Series A funding round, signaling significant growth in Europe's drone inspection sector. This investment, alongside an additional €1.5 million in public financing, demonstrates the growing interest in autonomous aerial systems for infrastructure monitoring and related applications. This funding round signifies Fuvex's commitment to expanding its reach within Europe and beyond. Fuvex, based in Navarra, specializes in long-range autonomous drone systems. The company's technology is designed to replace traditional helicopter inspections, offering up to 92% cost savings and significantly improved data resolution, up to 1,000 times more detailed than satellite imaging. Fuvex's focus extends to applications like gas pipelines, agriculture, and security/defense. The investment will enable Fuvex to cut operational costs and expand its team by 15-25 hires over the next 18 months. This funding round positions Fuvex to become a key player in the European market for drone-based infrastructure inspection. With plans for expansion into Portugal, France, and Italy, the company aims to become the European leader in fully autonomous, long-range drones by 2030. The company's innovation is critical for infrastructure safety, environmental sustainability, and wildfire prevention, indicating wider implications in the European Union. This investment underscores a trend of increasing investment in drone technology across Europe. Fuvex's success also highlights the strategic significance of regional government backing for innovative companies in the tech sector.