VIRES Aeronautics Soar With A Whooping $1M In Funding.
A developer of pioneering airplane wing design by the name of VIRES Aeronautics has recently announced a successful $1 million Series AA round of financing.
More Flights For Growing Industry.
The funds will allow VIRES Aeronautics to meet their recent increased needs of customer demands for even more flight time that has been quickly growing within the industry of unmanned aerial vehicles. Draper Associates where the ones to lead the round alongside VegasTechFund, Lance White, Toivio Annus, Lemnos Labs, Don Hutchison, and Promus Ventures, to join in on the round.
“This is the first true innovation in aviation since the jet engine,” explained Tim Draper, Partner at Draper Associates. VIRES Aeronautics’ novel wings allow aircraft to takeoff and land faster, fly longer, carry more, and consume less fuel. Drones are just brushing the surface, whereas their technology also has the capacity to disrupt a myriad of other markets including, but not limited to, automobiles, submarines, ships, turbines, and trains.
The Potential Market.
The industry for aerospace is still quite a moneymaking investment and highly promising opportunity for any one to begin to explore on. The United States and their grand market for operated drones makes has been foretold to make a whooping $9o billion alone in 2015. This present companies like VIRES Aeronautics a chance to break in and cause all sorts of renovate the industry into something better from its previous decaying form.
“We look for startups whose technology is game-changing and whose impact is straight forward,” said Jeremy Conrad, Partner at Lemnos Labs. “VIRES Aeronautics’ unique solution significantly improves the capability of drones to change our lives, and that is just the first of many markets their technology can impact. We’re excited to help them fulfill that vision.”