Hoverfly Technologies designs and manufactures tethered drone platforms such as the Sentry and Spectre that deliver persistent aerial surveillance and network extension for military and security customers. The company’s technology is the first and only tethered drone approved on the U.S. Department of Defense’s DIU Blue List, positioning it as a trusted alternative to foreign systems. To date, Hoverfly has sold more than 800 tethered drones to U.S. and allied defense customers, demonstrating significant market traction in a sector forecast to grow from $140 million in 2023 to $2.6 billion by 2032. Its new NEXUS capability extends command-and-control ranges for ISR, FPV, and loitering munitions, broadening the firm’s product suite. Recent partnerships with Leonardo DRS and Korea Robot Manufacturing include new U.S. production lines and component supply agreements that will expand capacity and strengthen domestic supply chains. The $20 million Series B raise is the largest in the company’s history and will fund scaling production, launching new products, and penetrating additional defense markets. Hoverfly also provides training, spare parts, and global maintenance support to its growing installed base.

Total raised

$20M

Funding rounds

1

Latest round

Series B

Latest activity

Oct 2025