Spanish drone technology company FuVeX has raised €3 million in an oversubscribed funding round to accelerate its commercial and international expansion and strengthen its position in the European dual-use drone market. The round included participation from SODENA, SEGO Venture, Izertis Ventures, and several family offices linked to the industrial, agricultural and innovation sectors. The company has also secured funding commitments for future financing rounds.
Founded in 2013 by Carlos Matilla, FuVeX develops, manufactures and operates long-range drones for civil and defence applications. Its proprietary technology combines unmanned aircraft, operational systems and artificial intelligence-powered analytics to automate the inspection and monitoring of critical infrastructure.
Designed as a dual-use platform, FuVeX's technology serves both commercial and defence customers, enabling beyond visual line of sight (BVLOS) operations of up to 10 kilometres while reducing inspection times, operating costs and workers' exposure to hazardous environments.
The company has established a strong presence in the energy sector, having inspected more than 36,000 kilometres of power lines through contracts with UFD, Naturgy's electricity distributor, and Endesa. FuVeX aims to inspect 70% of Spain's electricity distribution network by 2027 while expanding into agriculture, oil and gas, and other critical infrastructure sectors across Europe and Latin America.
Alongside the private investment, the company has secured €400,000 in public funding from Spain's Centre for the Development of Industrial Technology (CDTI) to support a defence research and development project.
According to Carlos Matilla, CEO and founder of FuVeX, the funding reflects investor confidence in both the company's technology and its ambition to contribute to Europe's strategic autonomy by developing drones designed, manufactured and operated in Europe.
The vertical integration of our solution—from aircraft development and operations to data analysis—gives us a highly agile structure that can adapt to a rapidly evolving sector. This allows us to provide a comprehensive solution while reducing dependence on foreign technology,
he added.
The funding will be used to expand the company's commercial and defence operations, strengthen its technology, industrial and commercial teams, increase manufacturing and operational capacity, and accelerate international growth. FuVeX will also invest in research and development to advance drone systems for defence, security and critical infrastructure applications.
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