October 7, 2022

News World 24

worldwide online news

Embention Receives Investment from Axon Partners

Embention is a global benchmark in the design of autopilots and components for drones for industrial purposes (parcel delivery, agriculture, or firefighting), and for transportation (eVTOL), a macro market trend that aims to revolutionize mobility in cities. With a team of more than 50 engineers and specialists, the company earns most of its revenues outside Spain.

The sector in which it operates is expected to grow exponentially in the coming years, reaching over 250,000 million dollars before 2035 (according to a report by JP Morgan based on various industry sources), with Embention being the company of choice for most of the large macro projects being developed worldwide.

This is the fourth transaction of Axon’s fourth fund, Innovation Growth IV, which consolidates its strategy of investing in companies with extraordinary founders, sustained and viable growth, solid balance sheets, and competitive advantage based on innovation and technology.

With this transaction, Embention will accelerate its growth plan, which includes continuing to develop new products at the forefront of technology, strengthening its international sales team and making strategic acquisitions.

The transaction will allow the company to obtain resources to continue with its growth plan in the coming years.

Since its creation in 2007, the company’s growth has been organic. In 2021 the company had a turnover of 3.3 million euros selling more than 1000 autopilots. With an international focus, it collaborates with aeronautical manufacturers around the world, with customers in more than seventy countries.

Iván Feito, principal of Axon comments “We are excited to enter the UAV and eVTOL sector with Embention, a company that from Spain is positioned as a world leader with customers in more than 70 markets, showing how Spain can be a leading market in aeronautics. In Embention we have found a very talented management team and we hope to contribute our knowledge and experience to take the company to the next level”.

David Benavente, CEO of Embention comments “after these 15 years in this incipient sector, we face a new exciting stage hand in hand with Axon to get drones to populate our sky in the coming years and continue to be technological leaders in this cutting-edge industry with our autopilots and critical systems”.

Article originally published on uasmagazine.com as Embention Receives Investment from Axon Partners

This news story originally appeared at Aviation Archives - Social Gov on 23 July 2022