Neva Sgr, Intesa Sanpaolo Group's Venture Capital Fund, Invests in Skydweller Aero Inc.
Italy's largest bank demonstrates support through participation in company's $40M Series A round
Italy's largest bank demonstrates support through participation in company's $40M Series A round
OKLAHOMA CITY, Sept. 28, 2021 /PRNewswire/ -- Skydweller Aero Inc., a U.S.-Spanish aerospace company developing solar powered aircraft for defense and commercial industries, today announced a new investment by Neva Sgr, Intesa Sanpaolo Group's venture capital dedicated to the hi-tech sector, through their 'Neva First' fund.
"We are honored and delighted to share Neva Sgr.'s participation as an investor in Skydweller's cutting-edge technology," said CEO Dr. Robert Miller. "We see this partnership yielding tremendous value to the global economy, transforming the government surveillance and telecommunications markets, while contributing to the maturation and growth of the clean technology industry."
The sustainability criteria and the characteristic of a potential billion-dollar company led Neva Sgr to make an initial investment of approximately $4 million in the company, an operation in continuity with the strategy of investing in companies with ESG (Environmental, Social & Governance) solutions and technologies. To date, the Neva First Fund portfolio numbers 13 investments, in addition to investments in international funds instrumental to deal flow partnerships, for a total commitment of over €50 million.
"Skydweller has developed a unique and extraordinary technology that goes in the direction of environmental sustainability," explains Mario Costantini, CEO of Neva Sgr. "We believe that the company's business can also have positive repercussions for the economy of our country in an industrial sector that has always been strategic for Italy, with excellent growth prospects. The ability to raise investment and attract investors and industry partners worldwide in a very short time confirms Skydweller's enormous potential to become a billion-dollar company."
This investment was part of Skydweller's $40 million oversubscribed Series A round announced in early-September, attracting major investors and industry partners like Palantir Technologies.
About Skydweller Aero Inc.
Skydweller Aero Inc. is a cutting-edge aerospace company developing solar powered aircraft solutions capable of achieving perpetual flight with heavy, powerful payload capacity. Utilizing technology based upon the longest continuous renewably powered flight program in history, this fast-growing startup is developing a new class of unmanned aircraft, providing the persistence of geosynchronous satellites with the powerful sensing capabilities and the flexibility of a large, airborne platform.
With a flexible payload system, including communications relay, 4G/5G cellular, day/night full motion video, satellite communication, imaging radar, and more, Skydweller will enhance commercial and government telecommunication, geospatial, meteorological, and emergency operation efforts around the world, allowing customers to operate persistently in more challenging areas for longer durations, while reducing environmental impact. For more information about Skydweller, visit www.skydweller.aero.
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Neva Sgr
Neva Sgr, part of the Intesa Sanpaolo Group and wholly owned by Intesa Sanpaolo Innovation Center, plans and manages investment funds for professional investors interested in seizing the diversification and high-yield opportunities offered by venture capital investments.
Neva Sgr can count on Intesa Sanpaolo Innovation Center's and Intesa Sanpaolo Group's strength, financial resources, know-how and network of relationships, a unique source of value on the market. Neva Sgr can watch trends and markets from a privileged position, to then take action with the force and responsibility of Italy's leading banking group.
Intesa Sanpaolo Innovation Center has invested in Neva First, the investment fund designed for excellent, high-tech, high-innovation start-ups harnessing trends with the potential for exponential growth. The fund mainly focuses on FinTechs and Italian companies with global growth plans or international companies that intend to develop projects with positive effects on industrial and production chains in Italy.
SOURCE Skydweller
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