Cyberhawk Innovations has plans to grow its unmanned drones business in new sectors and new territories, with financial backing from the Scottish Investment Bank's co-investment fund.
Cyberhawk Innovations is a Scottish firm which uses unmanned drones to inspect oil rigs and industrial sites, and is one of the latest recipients of the Scottish Investment Bank’s enhanced co-investment fund (SCF).
The firm received £766,000 of investment via SCF and Portfolio Fund between 2010 and 2015 to implement its business growth plans. The other institutional investor in the business is leading venture capital firm Scottish Equity Partners (SEP).
Supporting our supply chain
The Livingston-based company carries out aerial inspections and surveys using remotely operated aerial vehicles (drones).
They are also used to carry out close visual and thermal inspections of industrial assets such as gas flares, utility transmission towers and wind turbines. The company also offers aerial land surveying for the oil and gas, utilities, rail and renewable energy sectors.
Incorporated in 2008, Cyberhawk offers its services to clients across the UK and Ireland, with other large clients in mainland Europe, Middle East, Asia, Africa and North America.
Their unique cloud-based app, iHawk was launched in 2014 allowing inspections to be viewed remotely and categorised in a one-touch process.
With all of a client’s assets shown on one secure map-based browser, iHawk clients can then drill into the status of their assets, allowing them to prioritise repairs and view images of all inspected components.
Supporting Cyberhawk's growth
Since 2012, we have supported the recruitment and training of graduates through the SCOTGrad (previously Talent Scotland) programme. This has enabled the company to develop and train their own workforce of engineers from grass roots level upwards.
In addition, the company secured a Regional Selective Assistance grant in February 2014 to create over 20 new jobs, 11 of which have already been created. There has also been assistance for obtaining the support of a consultant to develop the workforce skills and technical knowledge for transmission tower inspection.
When considering their marketing activity the company decided they needed to be more targeted and better researched, and we have helped support this activity through grants provided to support consultancy costs.
We've also supported a coaching initiative for senior management – to facilitate a more rounded management approach outwith purely technical expertise. This will enhance the overall capability of the senior management team.
Cyberhawk currently employ 38 members of staff and forecast this to grow significantly in the next three years.
Looking ahead, the firm are keen to increase their penetration in renewables and rail industries across the UK, Europe and North America, where there is a healthy demand for their unique services.
Find out more about the Scottish Co-investment Fund
Get ready to attract investment