Indoor drone company Verity raises CHF7.5 million

Verity is rolling out its autonomous drone systems for warehouse automation with global leaders to improve their warehouse operations. The company has now raised a CHF 7.5 million convertible loan from renowned investors. Investiere contributed CHF 3.5 million.

With over 200,000 fully autonomous flights, Verity has established itself as a leader in the autonomous indoor drone space. The company is known for supporting acts like Céline Dion, Metallica or the China Central Television New Year’s Gala with its drones enabling breath-taking light shows. However what can be used securely in live shows above thousands of spectators is also of use for warehauses. The technology is now being deployed in the fast-growing warehouse automation sector and has been successfully tested in warehouses of IKEA and DSV.

Together, IKEA and Verity performed successful pilot tests for an automated drone solution for warehouse inventory checks. Scaled up, this solution has the potential to greatly reduce the many working hours required to manually check inventory.

The pilot with DSV in a warehouse in the Netherlands was also very successful. The drone-based system save 50% of the time for collecting the inventory. DSV estimates that the savings will increase to 80% once the solution is fully deployed.

A consortium of international investors provides the financial resources for the growth of Verity. The company has raised CHF7.5 million in a convertible note. Investiere contributed CHF 3.5 million. Verity has also already attracted key investors such as Kitty Hawk Ventures, the venture arm of the flying car startup funded by Google founder Larry Page as well as Fontinalis, the mobility-focused investment firm founded by Henry Ford’s great-grandson and Ford Motor’s executive chairman, Bill Ford.

Background information can be found on the website of investiere.

(Press release / SK)Picture: Ikea Today