Corporate investor STIHL Digital invests in software startup FlyNex
Hamburg — The technology company FlyNex recently closed another financing round worth millions of euros to develop new business areas and expand its current business. STIHL’s entry as an investor creates a strategic partnership to use drones as tools for data collection and analysis in other areas such as forestry and horticulture in the coming years.
In addition to the new commitment of STIHL Digital GmbH, the financing round is completed by investments from HTGF, TGFS (Technologie-Gründerfonds Sachsen), GPS Ventures and Snowflake Ventures. The repeated participation of existing investors in the current round demonstrates the confidence in FlyNex to become a leading drone data platform.
As the only platform in Europe to date, FlyNex offers holistic digital services for companies in seven European countries, with a focus on the energy supply, telecommunications, and construction and real estate industries. In addition to the creation of drone data, FlyNex also offers a comprehensive, seamless service from consulting with the customer through implementation to the evaluation and use of the acquired data.
The partnership with STIHL, known in around 160 countries as a leading manufacturer of quality products for forestry, municipalities, crafts, construction and gardening, gives FlyNex the opportunity to expand its range to other industries and target groups.
STIHL also sees many advantages in the cooperation:
“We have spent a long time looking around the international market for innovative solutions in this area and are convinced that we have found the right partner with our investment in FlyNex,” says Benjamin Junghans, Director at STIHL Digital GmbH
Both partners are convinced that they will be able to jointly develop solutions based on drone data that will be of interest to many STIHL customers.
“With our end-to-end platform, we provide companies with automated drones and artificial intelligence for data collection and real-time decision-making. We enable companies to create and process data in a way that only digital aerospace companies can,” explains Andreas Dunsch, CEO of FlyNex.
Based in Leipzig, Hamburg and San Francisco, FlyNex is the most widely used software solution for commercial drone projects in Europe. Through its proprietary cloud platform, FlyNex covers the entire commercial application range for data collection by unmanned aerial systems. Companies can thus integrate drones into their own processes with just a few clicks and, for example, reduce inspection costs by up to 90%. Founded in 2015, FlyNex is successfully used as a drone management solution by well-known companies and technology leaders in the construction, real estate, energy and aviation industries. FlyNex is also involved in Europe-wide innovation projects for the successful integration of drones, such as for medical transport, smart air traffic management or air cab navigation. www.flynex.io
The STIHL Group develops, manufactures and sells engine-powered equipment for forestry and agriculture as well as for landscape maintenance, the construction industry and private garden owners. The range is supplemented by digital solutions and services. The products are basically sold through service-providing specialist dealers and STIHL’s own online stores, which will be expanded internationally in the coming years — with 41 of its own sales and marketing companies, around 120 importers and more than 54,000 specialist dealers in over 160 countries. STIHL produces in seven countries worldwide: Germany, USA, Brazil, Switzerland, Austria, China and the Philippines. — Since 1971, STIHL has been the world’s best-selling chainsaw brand. The company was founded in 1926 and has its headquarters in Waiblingen near Stuttgart. STIHL generated sales of 4.58 billion euros in 2020 with 18,200 employees worldwide.
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances technology start-ups with growth potential. With a volume of around EUR 900 million spread across three funds and an international partner network, HTGF has supported more than 650 start-ups since 2005. His team of experienced investment managers and start-up experts supports the young companies with know-how, entrepreneurial spirit and passion. The focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. More than EUR 3 billion in capital has been invested in the HTGF portfolio by external investors in more than 1,800 follow-on financing rounds to date. In addition, the fund has already successfully sold shares in more than 140 companies.
Fund investors in the public-private partnership include the German Federal Ministry for Economic Affairs and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies.