Verity has raised a total of 7.5 million Swiss francs from investors in the form of a convertible loan. The spin-off from ETH Zurich has developed drones for interior spaces that are now also being tested in large warehouses. For this, Verity is working with IKEA and the logistics specialists DSV.

 

drone

Verity, a start-up based in Zurich, has raised fresh capital totaling 7.5 million Swiss francs in the form of a convertible loan. The investors involved in this financing measure also included the venture capital firm Investiere, which invested a sum of 3.5 million Swiss francs, as detailed in a press release. In addition, the start-up was also able to convince Kitty Hawk Ventures, which is the venture capital arm of a start-up established by Larry Page, the founder of Google, which specializes in flying automobiles.

Verity was founded by Raffaelo D’Andrea in the form of a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). D’Andrea is also the founder of the company Kiva Systems, which was sold for a price of 775 million US dollars to Amazon back in 2012.

Up to now, Verity has been known for concert appearances with stars such as Céline Dion. The drones developed by the start-up have been used to hold light shows over the stage at events such as these. Now, however, they are in the process of being tested for new application areas. In this context, they were recently trialed as part of a pilot project at an IKEA warehouse, where the drones autonomously carried out warehouse inventory checks.

The Danish logistics specialists DSV have also been testing Verity drones at a warehouse located in the Netherlands. The test was so successful that DSV is now keen to use the drones in several warehouses.

Webinar on December 2:

Sign up for the Virtual Swiss Drone Industry Tour

Innovate and Collaborate

Wednesday, December 2, 2020
11am EST / 8am PST / 5pm CET

The second session provides you with in-depth knowledge of how companies collaborate with the world’s leading drone labs and how they can apply for federal funding to support their advancements.

Speakers:

Register now

Contact us

Can we put you in touch with a peer company or research institute? Do you need any information regarding your strategic expansion to Switzerland's technology and business center? Give us a call or drop us a line. 

+41 44 254 59 59


info@greaterzuricharea.com