Vectored Propulsion Technologies Inc.

Vectored Propulsion Technologies Inc. focuses on innovative drone inspection solutions, notably the Skygauge Inspection Drone, which enhances safety and efficiency in industrial inspections. Founded in 2016 in North York, Canada, Vectored Propulsion Technologies Inc. specializes in drone technology for industrial inspection.

The company has pivoted towards advanced inspection solutions that replace hazardous traditional methods. Nikita Iliushkin, the founder and CEO, has a history of innovation in technology. The company has received CAD 3. 3 mn in Seed funding led by BDC Capital, with notable participation from Hello Ventures, RiSC Capital Corp, and SOSV, bringing the total amount raised to CAD 3.

3 mn. They have completed 3 deals, with the most recent funding round occurring on October 28, 2020. Vectored Propulsion Technologies Inc. specializes in advanced drone inspection technology, with its flagship product being the Skygauge Inspection Drone.

This drone is designed to facilitate the inspection of tall infrastructures, such as bridges, tanks, and other industrial assets, reducing the need for dangerous and costly traditional inspection methods like scaffolding and rope access. By utilizing an innovative design that allows for angled flight and precision readings through its force sensor probe, the Skygauge carries out inspections significantly faster—five to twenty times quicker than conventional methods. The primary clientele includes inspection firms and organizations in sectors such as civil engineering, transportation, and asset integrity, spanning geographical markets in North America and Europe, including notable users in Canada and the Netherlands. The technology enhances safety by keeping inspection teams grounded while increasing operational efficiency through frequent, cost-effective inspections that can identify potential failures early.

Vectored Propulsion Technologies Inc. generates revenue through direct sales and partnerships with inspection service providers who utilize the Skygauge technology in their operations. The transaction structure typically involves one-time purchases of the inspection drones, along with potential service contracts for ongoing support and training. Clients may also engage in subscription models for software updates or additional features that enhance the drone's capabilities.

The pricing strategy for the Skygauge includes various tiers to accommodate different client needs, aligning with the complexity and scale of the inspection tasks. Furthermore, partnerships with industrial firms allow for tailored solutions, ensuring that clients can maximize the benefits of the drone technology while contributing to the company’s revenue through collaborative service agreements. Vectored Propulsion Technologies Inc. plans to introduce new products that enhance its drone capabilities, with specific designs currently underway.

The company aims to expand into additional markets across North America and Europe by the end of 2023, utilizing the recent CAD 3. 3 mn Seed funding to support these initiatives. The funding will also assist in developing strategic partnerships and marketing efforts to increase visibility and uptake of the Skygauge technology.