Wingtra AG Secures $22M Series B as VTOL Drone Market Reaches Critical Scale

The Drone Revolution Meets Commercial Reality

The global commercial drone market isn’t just growing—it’s exploding. Valued at $29.8 billion in 2022, this sector is accelerating at a 38.6% annual growth rate, fundamentally reshaping how industries collect and process critical aerial data. Within this expanding landscape, one company has emerged as the clear leader in vertical take-off and landing (VTOL) drone technology: Wingtra AG.

Today, Wingtra AG announced a significant $22 million Series B funding round, marking a pivotal moment as the Swiss drone manufacturer positions itself to capture an increasingly substantial slice of the $83+ billion aerial intelligence mapping segment globally.

Why VTOL Drones Matter in 2024

The distinction between traditional drones and VTOL aircraft matters more than casual observers might think. Wingtra’s WingtraOne VTOL platform can take off and land almost anywhere—in confined spaces, on rough terrain, or in areas where conventional aircraft would be impossible. This capability has transformed data collection for industries that desperately need reliable, fast, and accurate aerial information: construction firms tracking project progress, mining operations monitoring sites across difficult terrain, environmental agencies assessing ecological changes, and agricultural businesses optimizing land management.

The numbers tell the story. Wingtra’s fleet has completed over 100,000 flights annually, mapping 18 million acres of land and sea. That’s equivalent to digitizing roughly 13.6 million football fields. The WingtraOne Gen II, released in 2021, takes this further by delivering survey-grade 2D and 3D maps at 0.5 inches per pixel resolution—meaning a single flight covering more than 100 hectares produces enterprise-grade digital twins. Compared to traditional terrestrial surveying, this approach is up to 30 times faster and 90% cheaper.

From Academic Thesis to Global Scale-Up

Wingtra AG’s journey began in the Autonomous Systems Lab at ETH Zurich, one of the world’s premier technical universities. Four entrepreneurs—Maximilian Boosfeld (CEO), Basil Weibel (VP Growth), Elias Kleimann (CFO), and Sebastian Verling (lead engineer)—transformed an academic paper into a commercially viable solution. The company progressed through the Wyss Zurich accelerator and has since grown to employ nearly 200 people across headquarters in Switzerland, offices in the US (Fort Lauderdale), and a hub in Croatia (Zagreb).

The company’s client roster reflects its market standing: CEMEX, Rio Tinto, the Army Corps of Engineers, and Kenya Red Cross operate Wingtra systems across 96 countries.

Behind the Funding: Who’s Betting Big

The $22 million Series B round attracted a diverse coalition of investors with deep expertise in aerospace, venture capital, and European innovation:

DiamondStream Partners led participation alongside EquityPitcher Ventures, Verve Ventures, and the European Innovation Council Fund (EIC Fund). Additional backing came from ACE & Company, entrepreneur and investor John L. Steffens (founder of Spring Mountain Capital), and a collective of accomplished Swiss entrepreneurs.

Dean Donovan from DiamondStream Partners emphasized the investment rationale: “The product’s simplicity of use, its high reliability engineering, and the company’s global network of value-added resellers and service providers have positioned it to expand its leadership in the aerial intelligence market globally.”

Strategic Leadership Expansion Signals Aggressive Growth Plans

Simultaneously with the funding announcement, Wingtra AG has reinforced its executive team with five veteran hires from leading aerospace and enterprise software companies:

Marcos Bayuelo (VP Product) previously directed product strategy and innovation at Hexagon AB’s mining division, scaling that business from $12 million to $60 million. Aleksandar Kostadinov (VP Sales and Customer Success) brings two decades of international sales experience building alliances and introducing Leica and Hexagon solutions to emerging markets. Alberto Toledo (General Manager, US) comes from Citrix, where he expanded US revenue from $4 million to $25 million in three years. Corinna de Maddalena (VP People) has led human resources functions across leading tech companies over 15 years. Marco Schicker (Chief Operating Officer) joins from Hilti AG, where he managed global team transformation and brings a track record as a serial founder.

CEO Maximilian Boosfeld stated: “Every one of these leaders has the right experience to take Wingtra forward. They have all successfully grown several organizations to the next level. With this funding round, the right people and market leading product we are well set to accelerate the company growth.”

The Use Case Ecosystem Keeps Expanding

What distinguishes Wingtra AG from competitors is the comprehensiveness of its solution ecosystem. The WingtraOne VTOL drone, paired with autonomous flight software and the WingtraPilot application, creates an integrated system for end-to-end data collection and processing.

In construction, the platform spans the entire project lifecycle: feasibility studies and right-of-way analysis in concept phases, bidding documentation and site planning during design stages, progress tracking during active construction, and maintenance/repair protocols post-completion. Similar modular applications exist for agriculture, land management, and environmental protection workflows.

Boosfeld elaborated on this strategic advantage: “We reduced the cost of adopting drone assets and increased the data quality. This will help industry to plan better and, fundamentally, improve safety for humans and the environment.”

What’s Next: Product Innovation Pipeline Incoming

Wingtra AG signaled that significant new features, camera integrations, and product launches are incoming over the next several years. The combination of fresh capital, experienced leadership, and proven product-market fit suggests the company is preparing for a transition from successful startup to established industry infrastructure provider.

The mapping and surveying market has historically lagged behind consumer technology in digitization. Wingtra AG, through its VTOL platform and integrated software solution, is systematically closing that gap—one aerial data point at a time.

About Wingtra AG

Headquartered in Switzerland since 2017, Wingtra AG designs and manufactures VTOL drone solutions for construction, infrastructure, mining, and urban planning professionals. The company’s WingtraOne platform has become the standard for commercial aerial mapping globally, with partners across every continent.

About the Investment Partners

DiamondStream Partners: A thematic fund focused on next-generation aviation and aerospace technologies, backed by executives from Volaris, Eos, Seabury Consulting, and British Airways.

EquityPitcher Ventures: An early-growth venture capital firm supporting promising DACH-region startups through capital, expertise, and network partnerships.

Verve Ventures: A Switzerland-based venture capital network investing across European startups in software, hardware, and healthcare from seed stage onward, with 150+ portfolio companies.

European Innovation Council Fund: An EU Commission fund supporting disruptive technology development and commercialization across all sectors and member states, with emphasis on female founder empowerment.

ACE & Company: A global private equity and venture capital firm managing $1.6+ billion in assets with offices in Geneva, London, New York, and Cairo.