Tel Aviv-based drone technology startup Flytrex has raised $7.5 million in a funding round led by Benhamou Global Ventures (BGV), with additional investment from btov. This round brings the total amount raised by the company to $11 million.
Flytrex is planning to use the fresh capital to improve its existing drone delivery operations in Iceland and North Dakota in the US, as well as prepare for the launch in North Carolina scheduled in 2019.
Flytrex claims to have launched “the world’s first fully autonomous urban drone delivery system” in Reykjavik in 2017. In the US, its system currently operates at a golf course. The startup aims at small and mid-sized retailers who need their wares delivered quickly to the customers.
Here's an example of how Flytrex's system works in Iceland: