The Tudela-based company Fuvex, which specialises in long-range drones for civil and Defence applications, has closed an oversubscribed funding round of €3 million. The deal, backed by Sodena, Sego Venture, Izertis Ventures and several family offices, will drive the company’s commercial and international growth and strengthen its Defence and Security division.
Founded in 2015 by Carlos Matilla, Fuvex is based in Tudela and specialises in the development, manufacture and operation of long-range drones for both civil and defence applications. The recently closed round included Sodena, the public company owned by the Government of Navarra; Sego Venture, part of Grupo SegoFinance; Izertis Ventures; and several family offices linked to the industrial, agricultural and innovation sectors. The company also received additional funding commitments for future rounds.
The deal was advised by Apbey and was complemented by €400,000 in public funding from the Centre for the Development of Industrial Technology (CDTI), aimed at an R&D project in the defence field.
Inspecting 70% of Spain’s electricity grid
One of the aims of the round is to strengthen Fuvex’s growth in the energy sector. The company aims to inspect 70% of Spain’s electricity distribution network by 2027, building on the experience gained in recent years and on contracts already signed with some of the sector’s largest companies.
Fuvex’s drones have already covered more than 36,000 kilometres of power lines under two of the largest commercial drone contracts awarded in Spain, for UFD (Naturgy) and Endesa. The technology automates inspections of hard-to-reach infrastructure, reducing time, operating costs and worker exposure to risk, while the data collected during flights is processed using Artificial Intelligence to detect anomalies. The company also holds one of Europe’s most advanced operational authorisations for BVLOS flights — beyond the pilot’s visual line of sight — at distances of up to 10 kilometres.
Expansion into Europe and Latin America
Fuvex plans to use part of the funding to accelerate its international expansion into Europe and Latin America, strengthening its technology, industrial and commercial teams. Alongside the electricity sector, the company plans to gradually expand into agriculture, Oil & Gas and other critical infrastructure.
Growth in Defence and Security
The company will also allocate resources to consolidating its Defence and Security division, an area in which it has already commercialised its first systems. According to the company, the dual-use nature of its technology allows it to apply the same knowledge base to both civil and military applications, positioning it within a strategic sector for European technological sovereignty. The funding will support new R&D projects and the development of systems for the armed forces, security services and critical infrastructure operators.
Strong growth and client diversification
The round comes at a time of strong growth for Fuvex: sales for the first half of 2026 already match those of the whole of 2025. The company has also significantly diversified its client base, moving from a single client accounting for 100% of its revenue in 2024 to four major clients today.
Carlos Matilla, CEO and founder of Fuvex, said the round “supone un respaldo a nuestra tecnología y, sobre todo, a nuestra visión” — reflecting the company’s commitment to European strategic autonomy through drones designed, manufactured and operated from Europe.
Source: Navarra Capital