Israeli drone delivery startup Flytrex has just raised $3 million in funding from Swiss Armada VC, and private angel investors including Daniel Gutenberg and Joey Low.
The company provides a cloud solution for the tracking and management of delivery drones, and is also developing drone hardware to assist in direct delivery to specific points. Flytrex is currently working with different countries to implement the system, where regulators are opening themselves to the idea of drone delivery, but are still concerned with issues of traffic control and consumer safety.
Flytrex reported to TechCrunch that it is currently involved in projects including electronic parts delivery in Europe and life saving drug delivery in Africa. Flytrex CEO Yariv Bash said that he believes drone deliveries will become a $100 billion opportunity in coming years.
Read more: TechCrunch