SkyX is a Toronto-based aerial data solutions provider offering Data-as-a-Service (DaaS) to asset operators. Led by founder and CEO Didi Horn, the company integrates AI with purpose-built aerial systems to source and deliver actionable data. Its DaaS helps energy-sector operators capture high-quality aerial data to build predictive analytics for protecting critical infrastructure. Applications include inspection of midstream oil and gas, power and rail assets, as well as border patrol and emergency search and rescue. SkyX plans to use new funding to expand into markets in Asia, the Middle East and Africa and to pursue verticals beyond the energy sector. The company was founded in 2015 and this marks its third capital raise; the amount of the latest investment was not disclosed. SkyX develops autonomous vehicles and an integrated platform for long-range asset monitoring and data acquisition, including the SkyOne UAV, the SkyX System with xStations and unlimited range, and SkyOS fleet-management software. The company closed a $9.5M Series B from Almond Tree/SkyX Limited Partnership led by Almond Tree Enterprise, bringing total funding to date to $15.8M. SkyX intends to use the proceeds to execute client contracts and to advance new and existing strategies to meet global demand from utilities and oil and gas corporations. Its integrated monitoring-as-a-service offering aims to reduce maintenance and monitoring costs while increasing asset visibility, integrity and safety. Typical missions include leak detection (including at night), right-of-way violation scanning, and vegetation-encroachment reporting. The company also says its services can reduce emissions from inefficient monitoring and decrease groundwater contamination through more frequent inspections, improved data and faster alerts. SkyX is an aerospace group based in Markham, Ontario that has developed a self-charging drone for monitoring long-range assets such as oil and gas pipelines. Led by founder Didi Horn, the company aims to bring fully autonomous drones to service the oil and gas industry. Its SkyOne model offers VTOL capabilities and a remote recharging feature that lets drones fly to a local xStation and recharge inside a protective dome. The drones are designed to inspect pipelines for damage and to provide mapping and security surveillance. The company will use the funds to grow its markets and develop new products. Financial detail in the article notes a USD $4M tranche of a planned $5M investment from Kuang‑Chi Group.

Total raised

$15M

Funding rounds

3

Latest round

Series B

Latest activity

Sep 2018