FlyCap is a large venture fund in Latvia, supporting local small and medium enterprises with already established business models and also eager to back startups possessing a ready viable product. The fund provides various forms of investments in equity and capital. Recently FlyCap has invested in Hanzas Elektronika and thus brought 600 000 euros to the grand manufacturer of smart drones AirDog.
Hanzas Elektronika is one of four legal equities belonging to HansaMatrix Company, the leading electronics producer in the Baltic States. In 5 years, Hanzas Elektronika has demonstrated an impressive growth rate and managed to achieve the turnover of 12 mln euros, which is 20% higher than the turnover of 2014.
In June 2015, Hanzas Elektronika came up with a ready industrialization process for smart drones branded as AirDog and launched their mass production within Helico Aerospace Industries order. The funding received from FlyCap will be directed to the manufacturing expansion including the expansion of the currently operating factory in Ogre, development of modern engineering technologies and just boosting the company’s working capital. Hanzas Elektronika also contemplates on later investing in their “Science Park” that would serve as a local technology accelerator. Here tech professionals would be able to suggest their business ideas, exchange experience and receive expert guidance. Actually, the company has already contributed to the promotion and development of such business ideas as SIA EuroLCD, SIA Lightspace Technologies SIA ZeroPowerDisplays.
Nowadays computer manufacturing industries in Latvia are gAathering momentum very fast, with extremely high growth rates in the production of electric and optic equipment. This can be totally granted to the increased knowledge and enthusiasm of local business people. According to Janis Skutelis, a representative of FlyCap, it is worth investing in high tech industries because of the great significance of Internet of Things technologies, IT gadgets and other related fields in which both consumers and manufacturers see a big potential. At the moment, they see Hanzas Elektronika as a perspective market player actively spreading innovative products on Latvian market.
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