Wingtra lands $22M funding to accelerate their operations globally

Founded 2016, Wingtra has established itself as the world’s largest producer of commercial vertical take-off and landing drones. The spin-off from ETH Zurich is accelerating growth with the new funding round, the expansion of the management team and product innovation.

Wingtra manufactures professional mapping drones, develops the software for fully autonomous flights and the WingtraPilot app operates the combined solution for reliable, fast and accurate collection and processing of aerial survey data. Their signature drone, the WingtraOne VTOL is being used by hundreds of businesses and organizations including CEMEX, Rio Tinto, Army Corps of Engineers and Kenya Red Cross spread across 96 countries. The drones conduct over 100,000 flights annually. Wingtra employs close to 200 people, has offices in Zurich (Headquarters in Switzerland), Fort Lauderdale (US) and Zagreb (Croatia).

Maximilian Boosfeld, CEO and co-founder of Wingtra commented: “We have built the best tool for accurate data collection and have created solutions together with our partners for a variety of use cases our customers face: As an example, our solution is used in all stages of the construction life cycle. And the same holds true for use cases in agriculture, land management and environmental protection. We will continue to innovate and solve the problems of the future with easy to use solutions.”

The funding round included DiamondStream Partners, EquityPitcher Ventures, Verve Ventures, the European Innovation Council Fund (EIC Fund), ACE & Company, John L. Steffens (founder of Spring Mountain Capital) and some of the most successful Swiss Entrepreneurs.

DiamondStream Partners Dean Donovan commented: “We are very excited about partnering with Wingtra. The product’s simplicity of use, its high reliability engineering, and the company’s global network of value-added resellers and service providers have positioned it to expand its leadership in the $83+ Billion mapping segment of the aerial intelligence market globally. We look forward to helping the company in the United States and Latin America, which will be increasingly important geographies as Wingtra continues to expand."

Experienced new managers joining Wingtra

To manage future growth Wingtra has reinforced its senior leadership with 5 new industry veteran appointments:

  • Marcos Bayuelo joins as VP Product from Hexagon AB where he directed product and innovation at the mining division of Hexagon AB, driving business growth from $12m to $60m in a single product portfolio
  • Aleksandar Kostadinov joins as VP Sales and Customer Success and brings two decades of experience building international sales alliances and introducing Leica and Hexagon products to untapped markets.
  • Alberto Toledo joins as GM in the US from Citrix where revenue lept from $4m to $25m in just three years.
  • Corinna de Maddalena joins as VP People having led HR functions in leading tech companies over 15 years.
  • Marco Schicker joins as COO from Hilti AG where he handled the transformation of global teams and brings insights and strengths as a 3x founder.

“Every one of these leaders has the right experience to take Wingtra forward” said Maximilian Boosfeld. “They have all successfully grown several organizations to the next level. With this funding round, the right people and market leading product we are well set to accelerate the company growth.”

(Press release / SK)
Photo L-R: Wingtra founders Basil Weibel, Maximilian Boosfeld, Elias Kleimann