Company Overview
Snapshot
Founded in January 2017 by Gad Peleg and Rei Avishai, FlyWorks operates with 1–10 employees. The company has raised $775K across four funding rounds. In July 2019, FlyWorks secured Seed funding from Incubit Ventures.
Business overview
FlyWorks specializes in developing and patenting a novel approach to powering multi-rotor drones using a gas engine, combining the capabilities of gasoline with the safety and simplicity of a multi-rotor design. Its core technology integrates an internal combustion engine for primary power with a limited electric drive system for maneuvering. This technology is applicable across various drone platform sizes, enabling multi-rotor platforms for diverse applications such as land surveying, utility inspection, and air taxis. The company operates within the Aerospace, Defense & HLS sector, targeting markets in Israel, Europe, Asia, and North America.
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- What is FlyWorks' primary technological innovation?
- FlyWorks has developed and patented a novel hybrid propulsion system for multi-rotor drones, combining a gas engine for endurance with an electric drive for maneuverability. This technology allows for extended flight times and operational flexibility.
- When was FlyWorks founded and by whom?
- FlyWorks was founded in January 2017 by Gad Peleg, who serves as CEO, and Rei Avishai, the CTO.
- What was FlyWorks' most recent funding event?
- In July 2019, FlyWorks secured Seed funding from Incubit Ventures.
- Which organizations have provided grants to FlyWorks?
- FlyWorks has received grants from the BIRD Foundation in July 2022, the Israel MOD in May 2018, and the Israel Innovation Authority in January 2017.
- What markets does FlyWorks target with its drone technology?
- FlyWorks targets geomarkets including Israel, Europe, Asia, and North America, with applications spanning land surveying, utility inspection, and air taxis.