In a recent development, Avular, a Dutch-drone startup raised €1.5M ($1.8 million) in new funding from Lumipol Holding, a parent organization of several companies in construction, agriculture, industry, and shipping. Avular also raised €450,000 in 2015 to develop drones for agricultural and inspection purposes.
At first, the funding may appear to be modest as Statista Research estimates commercial drone revenue in Europe from 2015 to 2025 to be €207M. However, Avular that’s been on the market since 2014 is using a variety of tactics to stay relevant in the fragmented drone market and carve out a niche for itself.