Velos Rotors, a US-based, Greek-origin UAV company, has secured $2M in a seed funding round from Greece-based Marathon Venture Capital (also backed Hack The Box). The US company will utilise the capital to develop its drone tech further and scale up its manufacturing capacity.
How was Velos Rotors born?
Consumer interest in drones is high, but their use in enterprise has been limited due to practical reasons such as limited payload and range, noise, weather conditions, and frequent crashes.
These issues are mainly caused by shape and structure and the inferior flying ability of multi-copters, which use small propellers that require a lot of energy to rotate and cover a small surface area.
Aris Kolokythas, a senior electronics engineer with a lifelong passion for aviation, came up with these realisations a few years ago.
Paired with his childhood friend and successful serial entrepreneur Tasso Argyros who served as the original angel investor in the company, he founded Velos Rotors to bring an industrial-grade UAV to the market and help push aviation forward.
The duo was recently joined by Michael Seal, a US Navy veteran with a long track record in the industry.
UAV with twin-engine design
Founded by Aris Kolokythas, Velos has developed a pioneering UAV with a twin-engine design. Its full-electric, sub 55 lbs helicopter with patented twin-engine design, can consistently carry a 13 lb payload for 60 minutes with 35 MPH cruise speed under any weather conditions.
As per the company’s claims, Velos Rotors’ patented twin-engine UAV design offers industry-leading redundancy, reduces noise and vibration, and substantially enhances overall efficiency and performance.
To date, the company has already delivered dozens of drone helicopters across the globe, that have amassed thousands of flying hours, to the excitement of their users.
“At Marathon, we are thrilled to work together with Aris, Michael, Tasso, and the team to bring meaningful innovation to the UAV market. Plus, if you are into aviation and want to make an impact with your work, Velos is the place to be,” says George Tziralism, Partner at Marathon Venture Capital.
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