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Avalon-Backed Skycatch Seeks $30 Million as Drone Funding Flows

Skycatch, a drone startup whose backers include Avalon Ventures LLC, is close to completing as much as $30 million in financing as the industry attracts increasing interest from private investors.

It will be the largest round of funding for the maker of drones and software used to monitor sites such as construction projects and oil facilities, said Richard Levandov, a Skycatch director and Avalon partner. The financing, which will probably be led by Avalon, is “way oversubscribed” and should be done within 60 days, he said.