GRUENDELPARTNER advises on FlyNex’s seed funding round

Leipzig-based FlyNex GmbH, a provider of digital solutions for drone-based data collection and analysis, has successfully completed a funding round worth several million.

In addition to a follow-on investment from the Technology Start-up Fund Saxony (TGFS), SBG – Sächsische Beteiligungsgesellschaft – is also taking a stake for the first time as part of the new ‘Innovationskapital Sachsen’ (‘RIG’) programme, which is co-financed by the German government’s Future Fund. The fresh capital is to be specifically invested in the development of the technology platform, the expansion of the team and international scaling.

FlyNex is one of the leading providers of services for the planning, execution and analysis of drone operations for the predictive maintenance of infrastructure. With the FlyNex Enterprise Suite, the company offers a scalable solution for aerial inspections.

The TGFS is an equity partner in Saxony for the seed and start-up phases. The fund was first launched in 2008 by the Free State of Saxony and Saxon financial institutions and has supported over 100 start-ups since then. In 2023, the TGFS launched its third generation of funds.

SBG – Sächsische Beteiligungsgesellschaft mbH, as an investment partner of the Free State of Saxony, provides equity capital for growth-oriented, innovative companies. Through the RegioInnoGrowth Fund (RIG), which it manages, SBG makes targeted investments in technology-driven companies in the growth phase as part of the ‘Innovationskapital Sachsen’ programme.

GRUENDELPARTNER provided comprehensive legal advice to TGFS during the financing round.

GRUENDELPARTNER’s M&A, Venture Capital and Private Equity practice group is one of the most experienced and largest advisory teams in Central Germany and supports investors and entrepreneurs through all stages of development, particularly in business start-ups, business development, corporate finance and all exit processes.