Organizers of one of the worldʼs leading events for the aircraft maintenance industry, MRO Americas in Atlanta, U.S., have chosen Hungarian startup AerinXʼs augmented reality (AR) solution as one of the ten most promising innovations in the segment.
The startup will have the opportunity to deliver a presentation at the conference to the most important players in the aircraft and aircraft maintenance industries not only in North America, but the whole world, says a press release sent to the Budapest Business Journal.
Organized by major aircraft industry and aviation publication Aviation Week, MRO Americas is set to attract some 15,000 representatives of 800 firms this year. The Atlanta event starts today and is set to run until April 11.
AerinX will join nine other innovative startups in presenting within the framework of the conferenceʼs “Start-Ups Stand Up for Innovation” section. The Hungarian startup will showcase its system, which utilizes AR technology to facilitate and revolutionize the external inspection and maintenance processes for aircraft, rather than relying on what it terms the obsolete manual “pen-and-paper” method of marking damages and documenting them.
“The opportunity to present at the MRO Americas conference could open the gates for AerinX towards the North American market,” notes Antal Bence Kiss, AerinX CEO and co-founder. “While a bit late compared to other segments, the aircraft maintenance industry is looking for the possibilities in digitalization and innovative technologies with great élan.”
At the end of last year, AerinX concluded an agreement with X-Ventures Alpha Zrt., which handles the X-Ventures Gamma Venture Capital Fund. The fund is set to invest HUF 250 million in the startup in multiple steps to facilitate its introduction to the market.
“With this help, we will be able to develop a final product from the prototype, and we can create the basis for a market launch,” the startup told the Budapest Business Journal in a Startup Spotlight interview earlier this year. The firm has also reached an agreement with Aeroplex of Central Europe Kft., a Budapest-based, Hungarian-owned aircraft maintenance company. AerinX says that international interest in the startupʼs AR solution is intensifying, with several cooperation negotiations with international players well underway.
Kiss said the firm is planning to raise Series A funding worth several million dollars this fall. Meanwhile, it aims to launch pilot projects with the involvement of international partners this year, scheduling an entry to global markets in fall 2020, the CEO added.
Currently, AerinX is conducting business negotiations alongside the MRO Americas conference at multiple locations in the United States, aided by the so-called Input Program, which supports Hungarian startupsʼ entry to the international market.