Drone service Sky-Futures attracts £2.5m from MMC Ventures
Funding of drone inspection company marks biggest European investment in drones to date
Drone services provider Sky-Futures has secured £2.5m in Series A funding from MMC Ventures, in what is thought to be the largest drones investment of its kind in Europe.
Founded in 2009, the London-based business provides drone inspection services to 30 of the world’s biggest oil and gas companies including Apache, BG Group, BP and Shell. The drones collect high definition video, stills and thermal imagery data, which is analysed as proprietary data and delivered as a technical report.
The investment comes after a year in which the company claims it grew 700%, and will enable it to continue this significant expansion and build its integrated technology inspection platform.
Previously used as military technology, the commercial use of drones has begun to make its way into the public consciousness in the last year and Startups’s successfully identified drones as one of the big tech trends of this year.
James Harrison, co-founder and CEO of Sky-Futures, commented: “We have experienced a fantastic level of growth in the past year, expanding our global reach and further establishing ourselves as the world leaders in oil and gas drone inspection. We recently received the permit to use our drones in United States National Air Space, an incredibly significant development, allowing us to further expand our international operations footprint.”
“Today’s funding announcement marks the next stage for Sky-Futures, and we are looking forward to working with the MMC Ventures team as we further develop our technology-driven commercial drone services.”
Simon Menashy, investment director at MMC Ventures, added: “Drone technology is an exciting area of innovation, but it’s only now that we are seeing leading commercial operators emerge.
“Sky-Futures’ use of drone technology in the oil and gas market is world-leading and changes the game for platform operators in terms of cost, safety and depth of data analysis.”