Spanish drone helicopter maker Alpha Unmanned Systems raises €4 million to expand production

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Alpha Unmanned Systems, a Spanish maker of unmanned tactical helicopters, has closed a €4 million financing round. The backer list reads less like a venture syndicate and more like Spanish banking: Cesce supports the deal as Spain's export credit agency, with Banco Santander, Bankinter and BBVA taking part.

The money goes to a new plant in Madrid to add production capacity, a bigger team, and faster development of its unmanned systems and dual-use subsystems. The company also wants to grow in Europe, the United States, Latin America and Asia.

It already has customers in more than 14 countries, among them the US Department of Defense, the Greek Navy and Bulgaria's Border Police. At home its drones serve the Guardia Civil, the Military Emergencies Unit and the Navy. Chief executive Eric Freeman said the backing "will allow us to grow much faster" in what he called a critical sector.