Estonian developer and manufacturer of hydrogen drones Skycorp Technologies raised €305K

Estonian developer and manufacturer of hydrogen drones and related infrastructure Skycorp Technologies raised €305K in a pre-seed round from lead investors Singaporean company Destiny Energy, which works with renewable energy projects, and Vilnius-based Baltic Sandbox Ventures. Estonian investing company Syda Ventures and an angel investor and a head of development projects at Estonian private energy company Alexela Energia Artur Dianov also participated in the deal.

Founded in Tartu in 2023 by Roman Suvorov and Marek Alliksoo, Skycorp Technologies's AI-powered Generation 2 e-Drone Zero can fly up to 120 minutes, and get refueling in 2-5 minutes. It also has off-grid capability and on-board computing to increase safety.

Hydrogen drones could be used in various applications, such as emergency response, surveillance and inspection, disaster response, search and rescue, agriculture, forestry, and delivering packages to remote locations.

The startup will use the investment to accelerate bringing its hydrogen Generation 2 drone to the market and expand its operations in 2024.

Founded in 2022 by business angels Lev Dolgatsjov and Olga Scheller, Syda Ventures invests in healthcare, education, clean and renewable energy, and agriculture startups.

Founded in 2018 in Vilnius, Baltic Sandbox Ventures is an accelerator, incubator, and investor. It provides up to €125K of financing to participants of the acceleration program, and up to €400K in seed rounds of investment. It supports early-stage deep tech and life science startups. The founding partners are Sandra Golbreich, Andrius Milinavičius, and Erik Bhullar.