Squadrone System Secures $5M to Revolutionize Aerial Filming With HEXO+, the Autonomous Flying Camera
Investment Accelerates Industrial Development and Product Roadmap of HEXO+, Allowing Anyone to Create Breathtaking Aerial Images, Hands-Free
PALO ALTO, CA–(Marketwired – Jun 23, 2015) – Squadrone System, the company behind first autonomous flying camera, HEXO+, today announced it has secured an investment of $3 million from Living Water Investment Corp., bringing its total investment amount to date to $5 million. The funding will allow the company to finance the industrial development of the HEXO+ product and execute on its roadmap, build out teams across Europe and the US, and roll out a comprehensive product marketing strategy that will extend the product line to a broader spectrum of consumers, making aerial filming and capturing life’s moments from above accessible to anyone.
The funding allows the team behind HEXO+ to bring their vision to life: offering an autonomous filming drone that lets users create, capture, and share beautiful, cinematic aerial images of their best moments. Currently endorsed by twelve world-class athletes and cinematographers led by co-founder and three times world champion of snowboard freerider Xavier De Le Rue, the HEXO+ self-flying camera is operated by a smartphone app which contains a vast library of cinematic camera movements that enable anyone to capture, direct and star in their story — from anywhere up in the air.
“We share the same vision about the evolution of the camera, the possibility of fully autonomous drones and unleashing new creative opportunities for video enthusiast. We believe HEXO+ will really change the way consumers use their cameras in their daily life and are pleased to support the team in growing their company,” said Living Water Investment Corp.
“We are excited to announce funding that will allow us to bring a revolutionary way of using your camera to the consumer market — the first-ever autonomous flying camera offering aerial images that were previously only accessible through helicopter or piloted drone. Without need for any piloting skill, HEXO+ empowers anyone to become the actor and director of their own movie,” commented Antoine Level, CEO, Squadrone System. “We are ready to accelerate our plan to make HEXO+ the best way to capture life moments from above, delivering truly beautiful images while being reliable and safe for consumer use internationally. We’re thankful to our investors, who share our enthusiasm and drive to compete in a rapidly growing market.”
Initially launched via a Kickstarter campaign where it closed out at $1.3 million from over 2,300 backers in July 2014 and shipping its first DIY units at the end of June, HEXO+ was designed with the user in mind. Incorporating its founders’ expertise in movie production with safety-critical aeronautics navigation system, its unparalleled approach to aerial camera technology boasts amazing camera movements. HEXO+ took home three awards at CES 2015, including iPhone Life’s Best of CES, Envisioneering’s Innovation & Design award at ShowStoppers and Videomaker’s Best Drone of CES award.
French banks Caisse d’Epargne Rhône Alpes, Banque Populaire des Alpes and Bpifrance will continue their financial support.
The HEXO+ autonomous flying camera is currently available for pre-order (USD $1,349). Feature specs include:
- Completely autonomous flight
- Intuitive camera movement control via your smartphone (iOS and Android)
- 3D gimbal for maximum image stabilization
- Removable feet, propellers and gimbal for easy transport
- Flight speed up to 45 mph / 70 km/h
- Compatible with GoPro 4k cameras, or 360cam
For more information, please visit: www.hexoplus.com
Transaction participants:
| Investor | LWI – Living Water Investment Corp. (Canada) | |
| Investor – Advisor | Borden Ladner Gervais LLP (Hans-Otto Nowak, Wei Kang) | |
| Investor – Legal | CMS BFL (Benoît Provost, Alexandra Rohmert) | |
| Investor – Due diligence, legal | CMS BFL (Benoît Provost, Alexandra Rohmert) | |
| Investor – Due diligence, IP | CMS BFL (Anne-Laure Villedieu, Julie Tamba) | |
| Investor – Due diligence, tax | CMS BFL (François Hellio, Johann Roc’H) | |
| Investor – Due diligence, labor | CMS BFL (Caroline Froger Michon, Guillemette Peyre) | |
| Investor – Due diligence | Grant Thornton (Sylvie Duhalt) | |
| Company – Advisor | treize advisory (Cédric Goarant) | |
| Company – Legal | Euclide (Saverio Curaba) | |
| Company – Transaction, legal | Alcya Conseil (Laurence Sallard, Adeline Didion) | |
| Company – IP | Leclere & Louvier Avocats (Josquin Louvier, Jean-Philippe Leclere) | |
About Squadrone System:
Squadrone System, the company behind HEXO+, was founded in 2014 by Antoine Level, Sylvain Montreuil, Christophe Baillon, Xavier De Le Rue, Matthieu Giraud and Medhi Mugnier, a team that has more than 20 years of expertise in movie production and critical flight navigation. With the goal of creating the best way to capture amazing bird’s eye view shots with an autonomous filming done and a simple smartphone app, HEXO+ was born. After closing out a Kickstarter campaign in July 2014, HEXO+ raised $1.3M from 2,300 backers and currently holds endorsements from twelve world-class athletes and cinematographers. The company was initially financed by Startup Maker, a French accelerator based in Grenoble. Learn more at www.hexoplus.com
