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Credit Suisse Entrepreneur Capital Ltd. invests in Zurich-based start-up Perspective Robotics
Credit Suisse Entrepreneur Capital Ltd., the bank’s venture capital vehicle, announced today that it is investing in Perspective Robotics (d.b.a. Fotokite), an aerial robotics design and manufacturing firm. Fotokite is dedicated to improving the safety and speed of public safety team operations, such as fire brigades, where it provides invaluable aerial situational awareness information to firefighters and first responders to help manage complex, safety-critical situations.
Fotokite tethered aerial systems are self-flying, allowing public safety teams to spend less resources on piloting drones and more time on responding to their mission. With a single push of a button, Fotokites fly in and out of vehicle-integrated packages to live stream data to public safety teams with unlimited flight time. Fotokite’s patented approach to tethered aerials systems results in a safer, more accountable systems, and the company has achieved regulatory advantages over free-flying drone technologies in the US, Switzerland, and France.
Christopher McCall, CEO of Fotokite, stated, “With the support of our investors, led by Credit Suisse Entrepreneur Capital Ltd., Fotokite will be able to accelerate towards our goal of improving the information that firefighters and first responders have on hand in emergency response operations. This investment will help Fotokite shape everyday public safety operations and support the industry's mission to save lives and preserve property.”
Promising investment with cutting-edge technology and clear USP
With its own investment vehicle, Credit Suisse aims to strengthen and further develop Switzerland as an innovative business hub. Credit Suisse Entrepreneur Capital Ltd., which was founded in 2010, has provided small and medium-sized businesses in Switzerland with a total of around CHF 130 million of venture capital. More than 50 innovative companies at different stages of development have so far benefited from the venture capital supplied by Credit Suisse. As announced on February 20, 2019, Credit Suisse has decided to inject a further 70 million of capital into the vehicle (see press release).
Didier Denat, Chairman of the Board of Directors of Credit Suisse Entrepreneur Capital Ltd. and Head of Corporate & Investment Banking at Credit Suisse (Switzerland) Ltd., stated: “By investing in Fotokite, we are partnering with a company with a superior USP from a technology and regulatory perspective, coupled with a highly compelling business case in a growing aerial robotics market. Our commitment demonstrates the company’s great potential for further growth.”
About Credit Suisse Entrepreneur Capital Ltd.
Credit Suisse Entrepreneur Capital Ltd. provides small and medium-sized businesses as well as young entrepreneurs with risk capital from a total fund of CHF 200 million. To date, it has invested in over 50 companies. The beneficiaries are innovative companies from around Switzerland that are at different stages of development. Helvetica Capital AG has been responsible for managing the investment portfolio on behalf of Credit Suisse Entrepreneur Ltd. since September 2015. The company is managed at a strategic level by a Board of Directors with wide-ranging experience, supported by an operations team. Further information is available at: www.credit-suisse.com/entrepreneurcapital.
Fotokite’s core technology was born at the Flying Machine Arena and spun off from ETH Zurich in 2014. Fotokite is now a team of 25 and has offices in Zurich, Switzerland and Syracuse, USA. The company builds fully autonomous, persistent, and reliable aerial systems that provide invaluable overview information to firefighters and first responders to help manage complex, safety-critical situations. Further information is available at: www.fotokite.com