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, with Incubit Ventures participating as a lead investor. FlyWorks holds a patent for its novel approach to powering multi-rotor drones with a gas engine, enhancing endurance and operational capabilities.
Business overview
FlyWorks specializes in developing and patenting high-endurance hybrid drones, primarily serving the Aerospace, Defense & HLS sector. Their core technology integrates a gas engine to power multi-rotor drones, providing the majority of flight power, complemented by an electric drive system for maneuvering. This innovation allows for extended flight times and can be applied to various drone platform sizes, catering to applications such as land surveying, utility inspection, and air taxis. The company operates in sectors including Aerospace, Robotics, and Energy Tech, 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.