Fuvex secures €1.7 million for European expansion in drone inspection industry

Fuvex Secures €1.7 Million in Series A Funding for Expansion

Fuvex, a drone startup based in Navarra, has successfully raised €1.7 million in the initial phase of its Series A funding round. The company aims to expand into new verticals such as gas pipelines, agriculture, and security/defense, while also focusing on international expansion across Europe and Latin America.

The funding round is further supported by €1.5 million in public financing, with Sodena, the investment arm of the Government of Navarra, leading the way with a €500k investment.

“This was our first significant round after more than a decade of development and production. We have secured the largest drone inspection contract for the UFD-Naturgy electricity network, inspected over 25,000 km, and attracted interest from strategic investors, which has been a pleasant surprise. This is just the beginning as we scale up to gas pipelines, agriculture, and security/defense,” stated Carlos Matilla Codesal, CEO and Co-founder of Fuvex.

Similar trends have been observed across Europe this year, with companies like Voliro, Flybotix, and Energy Robotics securing substantial funding for their drone and robotic infrastructure inspection projects.

Despite being smaller in scale, Fuvex’s funding is strategically significant, showcasing Spain’s contribution to the growing European ecosystem of drone and robotic infrastructure inspection startups.

While its Swiss and German counterparts focus on industrial sites and confined environments, Fuvex stands out with its long-range aerial systems tailored for energy grids, pipelines, and security applications, expanding Europe’s autonomous inspection capabilities.

Established in 2013, Fuvex specializes in drone-based inspection of critical infrastructure and has already conducted over 25,000 kilometers of power line inspections in Spain.

This funding round marks Fuvex’s first external financing after more than a decade of operations in a highly regulated and technologically demanding sector.

The company’s technology aims to replace traditional helicopter inspections with electric-powered, long-range drones capable of autonomous operations. Fuvex claims that its drones offer up to 92% cost savings while enhancing safety and data resolution, surpassing satellite imaging by up to 1,000 times.

These innovations have attracted contracts from major energy companies such as UFD-Naturgy and Endesa.

“Supporting Fuvex in its growth exemplifies how Sodena supports companies at all stages, reaffirming its commitment to creating value in Navarre through projects that apply technology and innovation to develop high-value solutions,” noted Iñaki Larraya Garayalde, managing director at Sodena.

The funding will enable Fuvex to reduce operational costs by 33% this year, with projections to achieve a 70% reduction by 2027. The company aims to conduct an annual inspection of 40,000 kilometers by 2026 and target a 71% market share in Spain by 2028.

Expansion plans include entering the Portuguese, French, Italian, and Latin American markets.

With over 50 employees, Fuvex plans to expand its team with 15 to 25 new hires in the next 18 months, focusing on R&D, engineering, and drone operations.

The company’s strategic vision is to become the European leader in fully autonomous, long-range drones by 2030, positioning itself at the intersection of infrastructure safety, environmental sustainability, and wildfire prevention.

With seven patents and increasing institutional support, including a recent visit from the Navarra Minister for Industry, Ecological Transition and Digital Business, Mikel Irujo, Fuvex is emerging as a prominent player in Europe’s drone-based infrastructure inspection sector.