Drone technology startup Fuvex has raised €1.7 million in the first phase of its Series A round, fueling expansion into new verticals including gas pipelines, agriculture, and security/defense, as well as international markets across Europe and Latin America.
The raise combines €1.5 million in public financing and €500,000 in investment from Sodena, the regional development agency of Navarra.
“This is our first real round after more than a decade of R&D and production,” said Carlos Matilla Codesal, CEO and Co-founder of Fuvex. “We’ve signed Spain’s largest drone inspection contract with UFD-Naturgy, surpassed 25,000 kilometers of grid inspections, and drawn the attention of strategic investors. This is just the beginning — we’re now scaling into gas, agriculture, and defense applications.”
From Helicopters to Hybrid Drones
Founded in 2013, Fuvex develops long-range electric drones capable of performing high-resolution aerial inspections at a fraction of the cost of traditional helicopter surveys. The company claims its systems reduce inspection costs by up to 92%, while delivering 1,000x clearer imagery than satellites.
After years of testing, regulatory approvals, and field validation, Fuvex has built a strong customer base in Spain, including UFD-Naturgy and Endesa. The startup has already logged over 25,000 kilometers of power line inspections, positioning itself as a key infrastructure partner for utility networks.
Advertisement
Backed by Navarra’s Innovation Ecosystem
“Supporting Fuvex in its growth exemplifies how Sodena backs companies at every stage,” said Iñaki Larraya Garayalde, Managing Director at Sodena. “The company represents our vision for dual-use innovation — applying advanced technology to both civilian and defense applications, while generating long-term value and jobs in Navarra.”
The funding will be used to optimize operations, targeting a 33% cost reduction by 2025 and a 70% reduction by 2027. Fuvex plans to reach 40,000 kilometers of annual inspections by 2026 and capture over 70% of Spain’s market by 2028.
Its expansion roadmap includes Portugal, France, Italy, and Latin America, alongside team growth — from 50 to nearly 75 employees in the next 18 months, primarily in R&D, engineering, and drone operations.
A Rising Player in Europe’s Drone Ecosystem
The funding arrives amid a surge of European drone innovation. Recent rounds include Switzerland’s Voliro (€19.8M) for aerial robots, Flybotix (€8.5M) for confined-space inspections, and Germany’s Energy Robotics (€11.5M) for autonomous inspection software.
While its peers focus on industrial facilities, Fuvex’s niche lies in long-range, autonomous inspection of energy grids, pipelines, and critical infrastructure, positioning Spain as a growing force in Europe’s aerial robotics landscape.
With seven patents, strong regional backing, and rising demand for sustainable inspection solutions, Fuvex aims to become Europe’s leader in long-range autonomous drones by 2030 — combining efficiency, safety, and environmental responsibility.
About Fuvex
Fuvex is a Spanish drone technology company pioneering long-range, electric-powered aerial systems for energy, agriculture, and defense applications. Founded in 2013 and based in Navarra, Fuvex replaces helicopter-based inspections with cost-efficient, high-resolution drones — improving safety, sustainability, and precision for infrastructure operators worldwide.
