Drone Evolution secures £180k from Wales Angel Co-investment Fund and angels
The funding was led by Andrew Diplock as the first deal for the Wales Angel Co-investment Fund.
Share allotment filed at Companies House
Commercial drone services provider offering specialised tethered drone technology for extended surveillance and operations.
Drone Evolution has secured £180k in funding from the Wales Angel Co-investment Fund and a syndicate of business angels. The capital will be deployed to acquire new drone equipment and develop the company premises into a training facility.
The Caerphilly-based company operates commercial drone services, focusing on tethered drones capable of extended flight times for applications such as public safety and event security. The round represents the inaugural investment for the £8m Wales Angel Co-investment Fund.
Lead investor Andrew Diplock backed the business alongside angel investors Gruff Dodd, Phil Buck and Ashley Cooper, with match funding provided via the Development Bank of Wales.
From the founder
"This is a show of faith from investors that this is a business that’s worth investing in, and they think it’s an exciting opportunity in a sector that’s growing fast."
Clayton Earney
Managing Director at Drone Evolution
Investor perspective
"What I look for in any business are the right individuals with the right experience, a great business model and a growth ambition for an ultimate exit. Drone Evolution ticked all the boxes for this investment."
Andrew Diplock
Lead Investor, Andrew Diplock
Use of funds
- 01Build out infrastructure
- 02Continue product development
Investors
Wales Angel Co-investment Fund
Andrew Diplock
Andrew Diplock
Development Bank of Wales
Gruff Dodd
Phil Buck
Ashley Cooper
Categories
About the company
Drone Evolution
Drone Evolution provides specialised tethered drone services and training.