As most idealists would say, “The sky’s the limit.”. The company we want to introduce you to today places the limit at the antipodes of this famous motto. Beyond the occasional visit to the Metro, citizens have practically forgotten about the city’s subsoil. However, this subterranean area is decisive for the proper functioning of our urban life. For instance, Madrid has more than 2,000 kilometers of passable galleries for water distribution and collection.
Any of the infrastructures located above the urban ground (water collectors, mines, and other subway installations) must be subjected to periodic maintenance inspections. However, their location and extent can make this task difficult and potentially dangerous for the people responsible for these inspections. For example, it is forbidden to access blasting chambers in the mining industry. However, in hydroelectric power plants, professional mountaineers must intervene because of the danger posed by the steep slope.
Hovering solves the problem.
What if all these arduous and dangerous undertakings were carried out by a machine? Hovering Solutions, the company we are introducing today, proposes a drone solution. The company has developed drones capable of performing high-resolution 3D mapping and inspections, thus reducing inspection time and significantly increasing the inspection scope.
Hovering Solutions operates in the subway mapping market, a market whose turnover is expected to reach 1.4 billion dollars by 2024. Although Hovering Solutions is not the only company that provides drones for such inspections, they are the only player in the market with 100% in-house technology, both in terms of the navigation system and the design and manufacture of the drones.
In other words, Hovering Solutions can offer its customers a mapping service with its proprietary drone. Unlike competitors, the company does not have to purchase a drone to incorporate its technology. In addition and comparison with other drones on the market, Hovering’s devices are characterized by their high speed, autonomy, and low weight.
A company that already generates profits
These mentioned advantages grant Hovering Solutions a privileged position in the market. Not in vain, the company already has renowned clients in Spain, such as Iberdrola, Endesa, and Canal de Isabel II. At the moment, Hovering is consolidating its position in the market, reaching the break-even point and with profit expectations for 2022.
We can conclude, therefore, that the company is in good health at the moment. However, their prospects are even more promising after the funding round they are about to raise through our platform. Fran Espada (CEO of the company) and his team aim to develop a user interface of simple and intuitive use with the €800,000 (up to one million in case of overfunding) they intend to raise.
A pioneering app
What is the goal of this interface? Until now, Hovering Solutions‘ drones required a technician to supervise their flight for infrastructure mapping. Thanks to the new interface (running as an app), the customers themselves will be responsible for the inspections using the licensed device on a leasing basis.
Thanks to the service provided by this company, its international expansion will be possible from 2023 onwards. This year will be a turning point in the company’s projections. During this year, the company expects to incur losses associated with expansion costs. However, these losses will allow Hovering Solutions to report an EBITDA of more than two million euros by 2025, a seven-fold increase over this year’s forecasts.
Invest in Hovering!
Thanks to Hovering Solutions, the limit goes beyond the sky. The company concentrates on subsoil inhabited by kilometer-long infrastructures that need regular inspections and represent a bigger market for subway utility mapping companies. Although Hovering is already a reference company in the national market, the company aspires to become an international market leader. Would you like to join its ambitious plan? You can already book your investment on our platform!