PRENEU(프리뉴), a specialist in the design and manufacture of unmanned aerial vehicles and the development of avionics components, has secured $11.3 million (KRW 1.5 billion) in Series B investment. This brings the company’s cumulative funding to $15.8 million (KRW 2.1 billion) in just over a year and a half, following a $2.25 million (KRW 3 billion) Series A in 2022.

T Investment, BNK Securities & Hyundai Venture Investment, Korea Investment & Securities, New Main Capital, STIC Ventures, and others participated in the round.

Since its establishment in 2017, PRENEU has been recognised for its technological excellence by implementing various localised development projects in the areas of drone airframe design and manufacturing, core component development, and control systems based on its proprietary technology. The company has also secured opportunities to increase sales by developing drone operation systems that meet the needs of the defence and civil sectors, and plans to launch “ARK MOUDULE”, which integrates avionics components into one module, in the second half of 2024, and expand its business scope to overseas markets as well as domestic markets after applying its own airframe to create a full-fledged profit model.

The Series B investment will be used to develop new unmanned aerial vehicles and core components, upgrade the airframe and automate the avionics assembly line, and start the development of the DRONEiT service platform to accelerate revenue growth.

Jong Kyeong Lee, CEO of PRENEU, said, “We believe that despite the downturn in the investment market, PRENE’s differentiated technology and revenue growth have been recognised, and we will continue to focus on new product development and airframe upgrades to secure revenue with the goal of going public in 2026.”