FuVeX Raises €3M to Inspect 70% of Spain’s Power Grid with Dual-Use Drones

Who Invested in FuVeX’s €3M Round

The oversubscribed round drew a mix of public investment, venture capital, and strategic family offices :

• SODENA — the public investment company of the Government of Navarra
• SEGO Venture — the startup investment line of Segofinance
• Izertis Ventures — the venture arm of the Spanish technology group Izertis
• Several family offices connected to the industrial, agricultural, and innovation sectors

Dual-Use Drone Technology

FuVeX develops a proprietary hybrid aircraft (plane/multirotor) with VTOL (Vertical Take-Off and Landing) capability, offering up to 5 times the range of traditional helicopters or multirotor drones . The platform carries onboard AI for autonomous inspection, data processing, and real-time analytics, and is built for long-range flights in both civil and defense configurations .

Key Applications and Customer Achievements in Energy

FuVeX has already inspected over 36,000 kilometers of energy infrastructure . The primary application is power line and electricity distribution grid inspection, where FuVeX claims its drones replace slower, more expensive helicopter-based surveys . The company also serves the oil & gas sector for pipeline and infrastructure monitoring .

Commercial momentum is accelerating: sales in the first half of 2026 already matched all of 2025’s revenue (€1.3M), and the company has forecast more than €2M for 2026 as a whole .

Expansion and Inspection Targets

Spain: FuVeX aims to inspect 70% of Spain’s electricity distribution network by 2027 . This builds on contracts already signed with several of Spain’s main energy companies .

International: The company is pursuing commercial expansion into Europe and Latin America, with new verticals including agriculture and oil & gas .

CEO Carlos Matilla’s Strategic Priorities

Carlos Matilla, founder and CEO, cited these key goals for the funding :

• Strengthen the Defence & Security division, adapting drones for defense applications and developing new R&D projects
• Accelerate commercial and international growth across Europe and Latin America
• Expand manufacturing capacity, hire technical staff, and scale operations to meet growing demand
• Position FuVeX as the European benchmark in dual-use drone technology, with a focus on technological sovereignty and AI-driven autonomous systems

The round positions FuVeX to compete in a European drone market that regulators and military planners are increasingly prioritizing for strategic autonomy.