French drone company XSun has raised €5.3m from the European Innovation Council Fund, Friedrich & Wagner, and Pays de la Loire Participations. The funds will help XSun industrialize its drones in France and expand globally. XSun, founded in 2016 by Benjamin David, develops solar and autonomous drones for civil, scientific, and government missions. These drones have a low environmental impact due to their use of 96% recyclable solar panels.
The European Innovation Council Fund is a European Union initiative that seeks to support and finance high-risk and high-potential companies. Friedrich & Wagner is a German private equity firm that invests in small and medium-sized companies. Pays de la Loire Participations is a French investment firm that specializes in financing startups and SMEs in the Pays de la Loire region of France.
XSun's drone technology has potential applications in a variety of industries, including agriculture, environmental monitoring, and infrastructure inspection. In agriculture, drones can be used to monitor crop health and yield, and to identify areas that need watering or fertilizing. In environmental monitoring, drones can be used to track wildlife populations, measure air and water quality, and detect pollution. In infrastructure inspection, drones can be used to inspect bridges, buildings, and other structures for damage and wear.
Overall, XSun's funding round will help the company accelerate the development and deployment of its drone technology, which has the potential to benefit a wide range of industries and contribute to a more sustainable future.