Drone maker secures $60-million investment

Aeryon Labs Inc has secured $60 million from Boston MA-based Summit Partners, a global growth equity firm with more than $6.5 billion in equity and fixed income investments. Waterloo ON-based Aeryon will use the funding to build upon its nine-year track record of product development and commercialization in the small unmanned aerial systems (sUAS) market. Commonly referred to as drones, sUAS's are increasingly being used in military, public safety and commercial markets for acquiring mission-critical intelligence. Aeryon has established early market leadership in the field and is poised for rapid growth, fitting Summit Partners' portfolio of founder-led companies with the potential to take dominant positions in high-growth industries….