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 millions.

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 invested specifically in the expansion of the technology platform, the growth 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 since supported over 100 start-ups. In 2023, the TGFS launched its third fund generation.

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 best-staffed advisory units in Central Germany and supports investors and entrepreneurs through all stages of development, particularly in company formation, business development, corporate finance and all exit processes.