First Joint Investment for LRM & LIOF
Maastricht/Sint-Truiden – Aerial Precision, will get expansion financing from the Belgian investment company LRM, located in the Belgian province of Limburg, as well as from the Dutch regional development agency LIOF, based just across the border in the Dutch province of Limburg. The company designs and develops hardware and software that can be fitted onto commercial drones and other mobile vehicles, offering a solution to the current limited use in generating 3D maps. Aerial Precision’s head office is located in Maastricht and is also active at DronePort in Sint-Truiden just over the border in the Belgian province of Limburg. It’s the first joint investment for both LRM and LIOF.
Wide Range of Applications
Aerial Precision does not only develop intelligence-driven 3D sensor modules, but also all the accompanying software to process and analyze the data from the sensor modules. As the 3D sensor modules can be fitted onto commercial drones as well as agricultural vehicles, they can be used for a wide range of applications.
“The existing application in 3D mapping (photogrammetry and LiDAR technology) is time-consuming, expensive, and not in real time,” says Vicente Payo-Ollero, Aerial Precision’s founder and CEO. “The unique technology, which we have developed, offers accurate, real-time 3D mapping at an affordable price. This makes the technology accessible to a wide range of industries, including construction, forestry and agriculture, telecommunications, and energy, as well as to the police force and cultural sector.”
The user can change the sensor module’s settings via the app and analyze the data in real time. This is extremely user-friendly considering you don’t require any specialized knowledge to process the data. The sensor modules and technology can, for example, help in determining which crops need more or less fertilizer, or they can be used to detect hazardous substances.
Growth Capital
Aerial Precision will use the growth capital investment of €760,000 to expand their product range, to protect their technology, and to pursue software development and commercial growth.
“LRM sees huge potential in Aerial Precision based on the combination of a dedicated team, as well as the wide range of applications for these unique sensor modules and their technology for the drone sector,” says Tom Vanham, LRM’s CEO. “The company fits in perfectly with our focus on smart industry, also known as industry 4.0 and our belief in the potential of the rapidly growing drone sector. We are especially happy for this to be our first joint investment, together with our Dutch counterpart based just over the border in the Dutch province of Limburg. It fits perfectly into both our ambitions for expansion in the Euregio.”
“Aerial precision aligns well with the ecosystem in both Dutch and Belgian Limburg with this unique product,” says Tys van Elk, LIOF’s Managing Director. “The company retains its headquarters in Maastricht, but will also be operating out of DronePort, the incubator site in Sint-Truiden for companies active in the unmanned aircraft sector. Aerial Precision will be part of the knowledge-based ecosystem there, and this expertise will be of great value for future product development. This is also LIOF’s first financial investment from its recently established Limburg Startup Capital Fund. This fund aims to realize the growth ambitions of innovative start-ups. This joint investment with LRM shows the strength the Euregio has in technological innovation.”
About LRM
LRM is an investment company that develops and stimulates economic growth in Belgian Limburg. We provide a solid foundation for growth for companies and projects that create jobs in the region. Our financial means and expertise, alongside Belgian Limburg’s key assets, create a unique growth environment. For more information, please visit: www.lrm.be
About LIOF
LIOF is the regional development agency for the Dutch province of Limburg and supports innovative businesses with advice, networking, and financing. We are here to help every start-up, scale-up, and small business owner who has an innovative idea, a business plan, or a financing question, as well as to assist all businesses from the Netherlands and beyond who want to set up businesses in Limburg. We also help businesses with cross-border collaborations and provide advice on doing business internationally. In collaboration with businesses and partners, we are working towards a smarter, more sustainable, and healthier Limburg by focusing on the transitions of energy, circularity, health, and digitalisation. For more information, please visit: www.liof.nl