VTOL startup Wingtra raises USD 22 million to boost global operations

21.03.2023 15:30, Morgane Ghilardi

Wingtra, a global leader in the production of vertical take-off and landing (VTOL) drones, raised USD 22 million in a Series B funding round. The company was named a TOP 100 Swiss Startup from 2016 to 2021 and was chosen for the 2016 Venture Leaders Technology program.

Founded in 2016, Wingtra is a leading provider of mapping drones and software for fully autonomous flights for reliable, fast and accurate collection and processing of aerial survey data.  Their signature drone, the WingtraOne VTOL, is being used by hundreds of businesses and organizations across nearly a hundred countries, including CEMEX, Rio Tinto, the Army Corps of Engineers, and the Kenya Red Cross.

The startup announced that it raised USD 22 million in a Series B funding round that includes DiamondStream Partners, EquityPitcher Ventures, Verve Ventures, Ace & Company, the European Innovation Council Fund (EIC Fund), Spring Mountain Capital founder John L. Steffens, and a host of undisclosed Swiss Entrepreneurs.

"We have built the best tool for accurate data collection and have created solutions together with our partners for a variety of use cases our customers face," said Maximilian Boosfeld, CEO and co-founder of Wingtra. "As an example, our solution is used in all stages of the construction life cycle. And the same holds true for use cases in agriculture, land management and environmental protection. We will continue to innovate and solve the problems of the future with easy-to-use solutions."

The Zurich-based startup employs nearly 200 people and has offices in the US and Croatia. The company also announced the reinforcement of its senior leadership with the appointment of five industry veterans: Marcos Bayuelo, formerly of Hexagon AB, joins as VP Product; Aleksandar Kostadinov joins as VP Sales and Customer Success, bringing experience from Leica and Hexagon; Alberto Toledo, formerly of Citrix, joins as GM in the US; Corinna de Maddalena, who has fifteen years experience as the head of HR in leading tech companies, joins as VP People; and Marco Schicker, formerly of Hilti AG, is joining as the new COO.

"Every one of these leaders has the right experience to take Wingtra forward," commented Boosfeld. "They have all successfully grown several organizations to the next level. With this funding round, the right people and market-leading product we are well set to accelerate the company's growth."

Wingtra made the TOP 100 Swiss Startup ranking every year from 2016 to 2021, earning second place in 2020. The company was also chosen to participate in the Venture Leaders Technology 2016 program, which took ten Swiss-based entrepreneurs on an investor and business development roadshow in New York.



Two of Wingtra's founders at the TOP 100 Swiss Startup Award 2020: Elias Kleimann and Basil Weibel. Wingtra earned 2nd place in the ranking.