Embention receives investment from Axon Partners to strengthen its growth
Embention is a global benchmark in the design of autopilots and components for drones for industrial purposes (parcel delivery, agriculture, or firefighting), and for transportation (eVTOL), a macro market trend that aims to revolutionize mobility in cities. With a team of more than 50 engineers and specialists, the company earns most of its revenues outside Spain.
The sector in which it operates is expected to grow exponentially in the coming years, reaching over 250,000 million dollars before 2035 (according to a report by JP Morgan based on various industry sources), with Embention being the company of choice for most of the large macro projects being developed worldwide.
This is the fourth transaction of Axon’s fourth fund, Innovation Growth IV, which consolidates its strategy of investing in companies with extraordinary founders, sustained and viable growth, solid balance sheets, and competitive advantage based on innovation and technology. With this transaction, Embention will accelerate its growth plan, which includes continuing to develop new products at the forefront of technology, strengthening its international sales team and making strategic acquisitions.
The transaction will allow Embention to secure the resources to continue with its growth plan in the coming years.
Since its creation in 2007, the company’s growth has been organic. In 2021 the company had a turnover of 3.3 million euros selling more than 1000 autopilots. With an international focus, it collaborates with aeronautical manufacturers around the world, with customers in more than seventy countries.
Iván Feito, principal of Axon comments “We are excited to enter the UAV and eVTOL sector with Embention, a company that from Alicante is positioned as a world leader with customers in more than 70 markets, showing how Spain can be a leading market in aeronautics. In Embention we have found a very talented management team and we hope to contribute our knowledge and experience to take the company to the next level”.
David Benavente, CEO of Embention comments “after these 15 years in this incipient sector, we face a new exciting stage hand in hand with Axon to enable drones to populate our skies in the coming years and continue to be technological leaders in this cutting-edge industry with our autopilots and critical systems”.
Embention is a Spanish company with more than 15 years of experience in the development of autopilots and components for unmanned aerial vehicles (UAVs) and autonomous vehicles. It has more than 500 customers in 70 countries including the Japanese Toyota, Airbus or the Israeli company IAI, among other companies. The company recently made its stock market debut on the Euronext Access Paris market.
Axon is a global alternative investment and strategic consulting firm with a differentiated positioning and a high specialization in technology. Axon operates either through investments or advisory services in more than 70 countries, with a particular presence in Europe, Latin America, North Africa, the Middle East and India. The company has a team of more than 75 professionals and offices in Madrid, Istanbul, Medellin, Riyadh and Brussels.
Diario Expansión, a leading publication specialising in economy and investment has echoed this transaction:
“Most of the company’s revenues already come from sales outside Spain, but Embention’s directors believe that there is still room for further internationalization of the company and strengthening other areas. This is why they have chosen to look to Axon Partners Group for a financial ally to support them in these processes and also help them explore acquisitions in the sector to gain weight through inorganic means.” Source: Diario Expansión.