Aeryon Labs, a manufacturer of small unmanned aerial systems and mission control software, today announced that it has closed a $60 million investment from Summit Partners.
This investment will help the Waterloo-based company “realize its ambitious vision for the sUAS market,” which sees widespread adoption across military, public safety and commercial operators worldwide.
Enterprise-grade drones provide an easy-to-deploy, safe and cost-effective means to acquire mission-critical aerial intelligence for a variety of applications, according to Aeryon Labs, and the market is rapidly expanding—it’s expected to approach $6 billion by 2020.
Ranked 7th as a 2014 Deloitte Technology Fast 50 company and 14th in the North American Technology Fast 500 ranking, Aeryon says it has experienced profitable organic growth and global expansion across its nine-year operating history, with customers in over 35 countries.
“This is a significant milestone for Aeryon Labs,” said Dave Kroetsch, the company’s CEO. “It validates our technical lead in the market and our ’aviation not recreation‘ approach to building sUAS, which is quickly making Aeryon a first choice for utility inspectors, first responders and soldiers in the most demanding operational environments.