Aviant

Aviant

Autonomous long-range drone delivery logistics service.

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DateInvestorsAmountRound
N/A

€0.0

Valuation: €0.0

13.9x EV/Revenue

round
investor investor investor

€0.0

round
investor

€0.0

Valuation: €0.0

12.0x EV/Revenue

round
investor

€0.0

round
*

$1.0m

Grant
Total Funding000k

Financials

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Revenues, earnings & profits over time
NOK20202021202220232024
Revenues00000000000000000000
% growth-1251 %163 %24 %40 %
EBITDA00000000000000000000
Profit00000000000000000000
% profit margin(83 %)(105 %)(92 %)(109 %)(55 %)
EV00000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x
R&D budget00000000000000000000

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More about Aviant
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Aviant is a Norwegian company specializing in autonomous drone delivery for logistics, operating an end-to-end service. Founded in 2020 by Lars Erik Fagernæs, Herman Øie Kolden, and Bernhard Paus Græsdal, who met at the Massachusetts Institute of Technology (MIT), the company was born out of the logistical challenges observed in the healthcare sector during the COVID-19 pandemic. The founders, all students from the Norwegian University of Science and Technology (NTNU), initially developed a drone to transport biological samples between hospitals in Norway and Sweden.

The company's first major milestone was in February 2021, completing the longest autonomous drone flight over land in Norway, a 120 km route between Trondheim and Røros. This demonstrated the capability of their technology, which is designed to operate in harsh Nordic weather, including winds up to 18 m/s and temperatures as low as -26°C. By the end of 2021, Aviant was operating three paying contracts in the healthcare sector. The business quickly expanded its use cases beyond medical transport to include the delivery of milk and water samples, and even spare parts for wind turbines.

Aviant's business model is primarily B2B, serving clients in healthcare and other industries requiring logistics for small cargo. A significant development is its home delivery service, "Kyte," which delivers groceries, meals, and medicines directly to consumers in sparsely populated areas. Customers place orders through the Kyte mobile app. This service operates within a radius of up to 30 km, a significant increase compared to many competitors. The company's drones, which combine vertical takeoff and landing with efficient, long-distance fixed-wing flight, can carry payloads of up to 2kg. Aviant has secured multiple rounds of funding, including a €2.3 million seed round in 2022 led by Luminar Ventures and with participation from Bring Ventures, the venture arm of the Norwegian postal service. In 2024, the company won a $1 million grand prize from the GENIUS NY accelerator, which will aid its expansion into the U.S. market.

Keywords: drone delivery, autonomous logistics, medical transport, last-mile delivery, B2B logistics, aerial delivery, long-range drones, harsh weather drones, home delivery service, Kyte, cargo drones, Scandinavian startups, logistics technology, drone transportation, remote area delivery, prescription medicine delivery, grocery delivery, food delivery, sustainable logistics, fixed-wing VTOL

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