Hoverfly Technologies Secures $20 Million Series B Round Led By Leonardo DRS And KRM

Hoverfly Technologies, a Sanford, FL-based provider of tethered drone systems for defense and security, closed a $20 million Series B round led by existing investor Leonardo DRS, Inc. and new partner Korea Robot Manufacturing (KRM). Leonardo DRS contributed $15 million and entered a manufacturing agreement to expand production of Hoverfly’s Sentry and launch a new line for the Spectre system. KRM invested $5 million and will establish a U.S. facility to produce key components, becoming Hoverfly’s exclusive manufacturer and preferred vendor. Led by CEO Steve Walters, Hoverfly delivers tethered drone platforms designed for persistent aerial surveillance and network extension for global defense and security applications. INVESTORS: Leonardo DRS & Korea Robot Manufacturing (KRM) ROUND: Series B AMOUNT: $20,000,000 HQ: #SanFord #Florida #VentureCapital #SteveWalters #HoverflyTechnologies #LeonardoDRS #KoreaRobotManufacturing #KRM #TradedVC