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Flying Robot Corporation

Flying Robot Corporation

Robotic Aircraft Inspection using Drones and AI - 10X Faster at 1/10 the Cost

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Deal Type

Equity

Funding Goal

$500,000

Current Reservations

$160,000

Minimum Reservation

$10,000

Maximum Reservation

$300,000

Deal Stage

Bridge to Series A

Pre-money Valuation

$3,000,000

Open Date

09/01/2019

Closing Date

04/01/2020

Deal Exemption Type

3

Elevator Pitch

Using Robotics, Drones, AI and custom software Flying Robots will disrupt the current method of inspecting aircraft. Our platform is 10X faster and costs 1/10 of current methods and can save $30 bill

KPIs

4 Employees
$300,000 Sales
Cash Flow Positive
1,000% ROI

Company Overview

Flying Robot Corporation has developed a platform to inspect aircraft using autonomous drones, AI and machine vision embedded into onboard computer on the drones.

The Founder, Bill Piedra started as Architect/Lead Engineer for the FAA UAS Integration Pilot Program site at Memphis, TN for FedEx.While at FedEx we began development of a system that would autonomously inspect aircraft photographically and then analyze the images for defects using a custom-built AI application.

The result is a platform that has the following benefits:

  • Reduces Inspection Time from 12-14 hours to 1 hour.
  • Reduces Labor to Perform Inspections from 144-man hours to 2 man hours.
  • Reduces the Cost Per Inspection from $40,000-$60,000 down to <$5000

Eliminates the lost revenue from taking aircraft out of service for inspection.

We've also assisted the FAA in establishing the rules for operating drones at an active airport as part of the FAA UAS IPP.

When fully deployed at FedEx the resulting savings will be greater than $100,000,000 per year.($100 million computed by FedEx Airline Technology / MRO Depts.)

The founder was originally hired as a consultant and FedEx has a policy of limiting consultants to working only 11 months and then requires a break before the consultant can return.

I took this break as an opportunity to convert the 'piecemeal' system we developed by trial and error into a much more powerful and seamless end to end application that does everything from mission planning, mission execution, data collection, defect detection via AI, organizing the collected data to link to engineer drawings and manufacturer data, apply photogrammetry to the collected data and archive data for each inspection.

You can see a demo version of the application here:http://flyingrobotsim.com/#

0607989caa0a6c979cd0a842c19d794a.jpg


We are closely aligned with DJI - the largest manufacturer of drones and have presented our use case at a Major Industry conference: https://www.dji.com/newsroom/news/dji-airworks-201...

We are currently a team of 4:

  • Bill Piedra - CEO:26 years software development experience and an industry pioneer in programming drones.FedEx sought me out because of my notoriety in the industry.https://www.linkedin.com/in/bill-piedra-drone-expe...
  • Nancy Piedra - CTO:Nancy retired from Microsoft as the Director of Mobile Application Development and managed a team of 600 Microsoft Developers and Engineers.https://www.linkedin.com/in/nancypiedra/
  • David Cook - COO:David is a 'serial entrepreneur' who has started and exited 5 multimillion dollar businesses, included one with me.He last company was acquired by Dell for a 7 digit sum.
  • Gary Lavado - CFO:Gary is a CPA that has served as CFO for 2 companies.He has also raised more than $100 million in capital for 6 different companies he's worked for.

Our platform can disrupt the aircraft inspection and MRO industry through the application of autonomous flight, AI, machine vision and learning.It has the potential to save the US Airline industry more than $20 billion.

We have a first mover advantage because we were part of the FAA UAS Integration Pilot Program, and FedEx Memphis was the only site in the US to operate drones near an active runway.It would take any competitor at least 2 years to catch up to the technology we are developing today.

Our business model is to license our software/hardware platform to airlines based on the size of their fleets, as well as charge fees for each inspection performed, plus the AI analysis, storage, and archiving of the data collect via a well-established cloud based system.

We are working on a long-term partnership with industry leader DroneDeploy, who sought as out as a partner for their new inspection system.

We're seeking $1,500,000 in capital to continue developing and testing of our platform for release 1.0.We already have the development team selected and a detailed development plan in place.

We also need the capital for business development, marketing and general operating expenses.

Our goal is to have a complete end-to-end solution ready for airline to use on the day that the FAA establishes the rules for operating drones at active airports which is expected late 2020.

Links:

http://flyingrobotcorp.com/

http://flyingrobotsim.com/#

Short Pitch Deck:https://drive.google.com/open?id=1qznzk6ZwicD5J8Z7...

Executive Summary: https://drive.google.com/open?id=1w-87YEKOg97qs3TU...

Other links of interest:

Bill Piedra - Cast Member Science Channel Series DRONED:

https://ew.com/article/2016/07/14/tyler-perry-dron...

Bill Piedra - Early Drone Project drew international attention:

https://www.insideedition.com/headlines/10647-are-...

Bill Piedra DJI Developer Challenge Finalist: https://www.dji.com/newsroom/news/dji-kicks-off-2016-dji-developer-challenge

Bill Piedra Project Mentioned in US Senate Testimony by Brendan Schulman

I would love to speak with you further, either on the phone or in person at your connivence.

You can reach me by email at this address or at bill.piedra@flyingrobotcorp.com

You can also reach me by phone at 781-775-3673

I look forward to hearing from you.

Sincerely,

Bill Piedra

CEO - Flying Robot Corporation

http://flyingrobotcorp.com/

781-775-3673


Traction

  • Flying Robots successfully designed an Intelligent Aircraft Inspection System using drones. Our platform is 10 times faster at 10% the cost

    May, 2019

Pitch Deck

Press Mentions

Key Customers & Partners

FedEx American Airlines

Testimonials

Don Tatum
Don Tatum
VP Airline Technology for FedEx
"Using drones to inspect aircraft will save FedEx more than $100 million per year."

Frequently Asked Questions

How much money will our platform save an Airline with 500 Aircraft

Approximately $100 million per year.

Risks & Disclosures

Currently the FAA does not allow drones to be operated an active airport. Our company was recruited by FedEx as part of the FAA UAS Integration Pilot Program to establish the rules for operating at an active airport.

Memphis Shelby International Airport is the site selected by the FAA for their pilot program. The date of completion of the program is schedule for 2nd Quarter 2020.

Documents

Confidential

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