Credit Suisse Entrepreneur Capital Ltd. invests in Zurich-based start-up Perspective Robotics
Investment will support further business growth and the creation of jobs in Switzerland
Credit Suisse Entrepreneur Capital Ltd., the bank’s venture capital vehicle, announced today that it is investing in Perspective Robotics (d.b.a. Fotokite), an aerial robotics design and manufacturing firm. Fotokite is dedicated to improving the safety and speed of public safety team operations, such as fire brigades, where it provides invaluable aerial situational awareness information to firefighters and first responders to help manage complex, safety-critical situations.
Fotokite tethered aerial systems are self-flying, allowing public safety teams to spend less resources on piloting drones and more time on responding to their mission. With a single push of a button, Fotokites fly in and out of vehicle-integrated packages to live stream data to public safety teams with unlimited flight time. Fotokite’s patented approach to tethered aerials systems results in a safer, more accountable systems, and the company has achieved regulatory advantages over free-flying drone technologies in the US, Switzerland, and France.
Christopher McCall, CEO of Fotokite, stated, “With the support of our investors, led by Credit Suisse Entrepreneur Capital Ltd., Fotokite will be able to accelerate towards our goal of improving the information that firefighters and first responders have on hand in emergency response operations. This investment will help Fotokite shape everyday public safety operations and support the industry’s mission to save lives and preserve property.”
Promising investment with cutting-edge technology and clear USP
With its own investment vehicle, Credit Suisse aims to strengthen and further develop Switzerland as an innovative business hub. Credit Suisse Entrepreneur Capital Ltd., which was founded in 2010, has provided small and medium-sized businesses in Switzerland with a total of around CHF 130 million of venture capital. More than 50 innovative companies at different stages of development have so far benefited from the venture capital supplied by Credit Suisse. As announced on February 20, 2019, Credit Suisse has decided to inject a further 70 million of capital into the vehicle (see press release).
Didier Denat, Chairman of the Board of Directors of Credit Suisse Entrepreneur Capital Ltd. and Head of Corporate & Investment Banking at Credit Suisse (Switzerland) Ltd., stated: “By investing in Fotokite, we are partnering with a company with a superior USP from a technology and regulatory perspective, coupled with a highly compelling business case in a growing aerial robotics market. Our commitment demonstrates the company’s great potential for further growth.”
About Credit Suisse Entrepreneur Capital Ltd.
Credit Suisse Entrepreneur Capital Ltd. provides small and medium-sized businesses as well as young entrepreneurs with risk capital from a total fund of CHF 200 million. To date, it has invested in over 50 companies. The beneficiaries are innovative companies from around Switzerland that are at different stages of development. Helvetica Capital AG has been responsible for managing the investment portfolio on behalf of Credit Suisse Entrepreneur Ltd. since September 2015. The company is managed at a strategic level by a Board of Directors with wide-ranging experience, supported by an operations team. Further information is available at: www.credit-suisse.com/entrepreneurcapital.
Fotokite’s core technology was born at the Flying Machine Arena and spun off from ETH Zurich in 2014. Fotokite is now a team of 25 and has offices in Zurich, Switzerland and Syracuse, USA. The company builds fully autonomous, persistent, and reliable aerial systems that provide invaluable overview information to firefighters and first responders to help manage complex, safety-critical situations. Further information is available at: www.fotokite.com
Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 45‘680 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
For further information
Media Relations Credit Suisse
+41 844 33 88 44
CEO of Fotokite
+41 44 520 85 46
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