Budapest-based AerinX, which develops and provides digital aircraft maintenance solutions, has closed a pre-Series A round of €2 million, led by Takarék Venture Capital Fund I, managed by DBH Investment. The startup will use the funds to enter international markets early next year.
Budapest-based AerinX develops innovative hi-tech solutions assisting with external surface checks and the conduct of related maintenance of aircraft. The company’s first product is a mixed reality (MR)-based aircraft inspection system that supports the work of professionals with external surface inspection of airplanes and other aircrafts, together with the related maintenance tasks. The system, which significantly accelerates workflows, is already being used in test phase since the beginning of this year by Aeroplex of Central Europe, which is one the largest MRO (maintenance, repair and overhaul) companies in Central Europe.
With the investment, the company is going to significantly accelerate its technological research and development as well as business development activities to enter international markets. Besides Aeroplex, other major international aircraft maintenance companies are starting to use AerinX’s MR system soon within the frameworks of the company’s Early Adopter Program.
“Takarék Venture Capital Fund sees huge potential in the smart aircraft inspection system developed by AerinX, which absolutely fits into the major digitalization processes currently affecting the aircraft industry worldwide. In our opinion, the company will be able to gain significant market share in the aircraft maintenance industry, achieving a dominant position among technologies emerging”, underlined Marcell Horváth, CEO of DBH Investment, fund management company of Takarék Venture Capital Fund.
“With the venture capital investment received from Takarék Group, we hope to accelerate market entry planned for early 2021. In the coming 6-9 months we are going to continue our R&D activity to finetune and extend the functionality of our smart aircraft inspection system. We are especially glad that over the past year we managed to grow the company valuation of AerinX significantly, which was acclaimed by Takarék Group with its investment”, said Antal Bence Kiss, Co-Founder and CEO of AerinX.
The company also plans a Series A round of funding within the next 12-18 months involving international investors to accelerate international growth.