Drone manufacturer jets off with £250,000

A SPECIALIST South Yorkshire manufacturer is launching a drone manufacturing division after a £250,000 startup funding package.

Marine equipment manufacturer Martek Marine is expanding into the drone sector with the launch of Coptrz following a funding package from HSBC.

Rotherham-based Martek set up Coptrz having identified a gap in the market for a range of commercial drones which could be used in marine and emergency services, they said.

Corptrz has expanded in Europe and invested in its manufacturing capabilities, with turnover predicted to reach £1.7m in its first year, projected to rise to £5m the following year.

The company has been able to employ two recruits who have joined the existing Coptrz team.

Steve Coulson, director at Martek Marine Ltd, said: “After extensive research, we have identified the significant potential for growth in this market.

“The bank’s support and international reach has also allowed us to begin implementing our export strategy and to recruit the talent we need to make Coptrz a successful part of the wider Martek Marine business.”

Mike Swift, area director for West and South Yorkshire, said: “We have worked with Coptrz from the beginning and it is an excellent example of a UK business having both innovative products and an export-led growth strategy.

“The finance package has supported the business in pushing forward into different international markets such as Germany, USA and the Far-East by assisting with its international travel and direct sales costs. We look forward to seeing their business thrive”

The deal was arranged by Julie Bowler, corporate relationship director, HSBC South Yorkshire.