Gadfin expands its international operations and announces $7 million round of funding, led by the Southern Israel Bridging Fund VC (SIBF)

    REHOVOT, ISRAEL, May 04, 2022 /24-7PressRelease/ -- Gadfin - developer of game-changing eVTOL solutions for long-range B2B urgent all-weather unmanned aerial delivery and scanning services, especially for the medical supply segment – announces the closing of its round A of funding, which was led by SIBF along with GEHR Cooperation and other strategic investors, for $7 million. The funds raised will enable the company to obtain CAA certification approvals for its Spirit-One air platforms in the regions in which it operates, and to further expand its international activities in the transportation of critical equipment via its unique patented unmanned systems.

Based on proprietary eVTOL technology, Gadfin's drone service delivers low-to-medium payloads over unprecedent long ranges, meeting a growing need for urgent and express delivery of B2B products, with emphasis on the medical supply segment.

The company's flagship product - the hydrogen fuel cell powered Gadfin Spirit-One – is designed for long-range deliveries of up to 250km (155 miles), at a speed of 100km/h (62 miles/h), enabling mission-critical cargo delivery. Its insulated compartment enables lifesaving medical aid to be delivered safely and kept cool, at temperatures as low as -70 C (-94 F), thanks to Gadfin's custom packaging. As well as the efficient scanning of gridlines for its customers.

All Gadfin's systems feature patented folding wings that enable easy and stable vertical takeoff and landing (VTOL), requiring only a small work-area footprint. With their wings expanded and forward propulsion, the drones achieve unparalleled energy efficiency, extended flight time and extended range.

"We are pleased to announce that we have concluded our Series A round of funding," says Eyal Regev, CEO and founder of Gadfin. "We secured $7 million in this round, enabling us to mature our air platforms, and support the growing number of POCs and contracts we have planned for the coming years. This investment shows the confidence of investors in our breakthrough technology for logistic deliveries and life-saving assistance."

"Having examined Gadfin's eVTOL technology, we believe that this is a real game-changer, with strong market potential," says Boaz Or-Shraga, General Partner at SIBF VC. "Gadfin brings unique features and strong performance to the growing field of aerial transportation. We decided to invest in the company because of its superb team, led by Eyal, and we believe that we can make a meaningful contribution as part of our investment model. We are privileged to have with us on board GEHR corporate, which will bring significant strategic benefit to Gadfin."

About Gadfin
Gadfin develops next-generation high-value package delivery and aerial scanning products and services.

Engineered from the ground up by Israel's top aerospace industry experts, the versatile design has proven to provide the most robust and efficient air logistics platform to date.

Operated by unmanned autonomous robotic centers and tracked through cellular and satellite communication, the drones meet international standards (ADS-B, Remote ID compliant with UTM systems), enabling flight in urban and suburban areas.

Setting security standards through multiple measures initiated by Gadfin, the drones are fully equipped with an emergency parachute and advanced anti-collision technology.

About SIBF
SIBF VC - Southern Israel Bridging Fund is a venture capital firm based in Beer Sheva, Israel. The firm primarily invests in the information technology, ag-tech, cybersecurity, digital health, health tech, mobile, artificial intelligence, and machine learning sectors.

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