Hoverfly Technologies Raises $20 Million in Series B

Hoverfly Technologies is a Sanford, Florida-based company that specializes in tethered drone systems designed for persistent aerial surveillance, communications extension, and unmanned mission support. Their platforms address defense and infrastructure-security needs by providing long-duration, fixed‐location aerial capabilities.

Mission & Vision of Hoverfly Technologies

Hoverfly Technologies aims to deliver robust, domestically-manufactured aerial systems that enhance U.S. and allied unmanned capabilities. Their vision focuses on enabling tethered drones to serve as persistent sensor platforms, communications relay nodes, and network-extension assets—especially in contested or infrastructure-limited environments. With this approach, they position their technology as a critical component of next-generation unmanned ecosystems.

Fundraising & Financial Trajectory

Hoverfly recently closed a $20 million Series B funding round. The round was led by existing investor Leonardo DRS (which invested $15 million) and new investor Korea Robot Manufacturing (invested $5 million). This represents the company’s largest capital raise to date and underscores the confidence of strategic defense-industry partners in its model and market potential.

Core Technology & Product Portfolio

Hoverfly’s platform offerings include tethered drone systems such as the “Sentry” and “Spectre.” These systems integrate tethered power or data links to enable extended on-station flight durations beyond what free-flying UAVs typically allow. As part of their technology roadmap, Hoverfly has introduced their NEXUS capability—which extends unmanned system networks, supports BVLOS (Beyond Visual Line of Sight) missions, integrates ISR (Intelligence, Surveillance, Reconnaissance) payloads, and enables networked drone operations across air, land and sea domains.

Their engineering approach emphasizes domestic U.S. production, supply-chain resilience, and alignment with defense-grade manufacturing standards. The manufacturing agreement with Leonardo DRS and the partnership with Korea Robot Manufacturing reflect this focus.

Recent Milestones

• Hoverfly has sold over 800 tethered drone systems to U.S. and allied defense customers, demonstrating growing market traction.
• The Series B funding and manufacturing partnership with Leonardo DRS will expand production of the Sentry system and launch a new production line for the Spectre platform.
• The industry segment for tethered drones is projected to grow from roughly $140 million in 2023 to over $2.6 billion by 2032, supporting Hoverfly’s growth trajectory.

Market Position & Traction

Hoverfly operates in a niche but high‐value segment of unmanned systems: tethered drones. While many drone companies focus on free-flying platforms, Hoverfly’s tethered solutions provide persistent, secure, and infrastructure-light aerial presence. Their alignment with defense priorities—such as domestic manufacturing and trusted supply chains—gives them a strong competitive edge. With defense customers already onboard and production scaling underway, Hoverfly is positioned to move from demonstration and pilot phases into broader operational deployment.

Why Hoverfly Technologies Is a Company to Watch

Hoverfly stands out because it merges hardware, systems integration and strategic partnerships in a domain where reliability and supply-chain security matter. Their recent funding round led by defense industry incumbents signals that they are not just a startup, but a serious player in defense unmanned systems. As demand grows for persistent aerial platforms in defense, infrastructure security, and communications relay, Hoverfly is poised to expand rapidly. Investors and defense-industry observers should keep an eye on their production ramp-up, contract wins and system deployments.

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