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UPS invests in drone startup CyPhy
Drone startup CyPhy has named UPS as one of its investors, one of several contributing to CyPhy’s Series B round of funding. This will help the startup to launch the commercial version of their drone system.
The Persistent Aerial Reconnaissance and Communications (PARC) vehicle system, as it is named, is capable of aerial coverage and HD footage, according to CyPhy’s website.
The UPS Strategic Enteprise Fund is concerned with research and development and invests in startups at various stages of growth, looking for expertise that might give them a competitive edge.
UPS stated that they are looking to CyPhy not only for their technology, but for their knowledge of drone use, which could assist with the company’s humanitarian relief efforts.