Counter-drone startup Dedrone caught something much more positive than a rogue drone. This week, the California-based company snagged $12.1 million in a funding round led by Euro-tech investors TempoCap.
Founded in 2014, Dedrone has already racked up an impressive roster of VC investors, including Felicis Ventures, Menlo Ventures, and John Chambers, Chairman Emeritus of Cisco Systems and founder of JC2 Ventures.
A company spokesperson said Dedrone will use the funding to “accelerate development of its best-in-class platform providing early warning, classification of, and mitigation against drone threats.”
Last month, Dedrone scored an equity investment and reseller partnership with General Dynamics Mission Systems, a division of General Dynamics selling to government customers.
Dedrone’s counter-drone platform detects and classifies drone-based threats with the help of radio sensors as well as special camera and radar systems after which Dedrone’s intelligent DroneTracker software analyzes the gathered data.
“Drone technology has advanced tremendously in the past few years, and today drones significantly aid in surveying, disaster relief, delivery, and myriad business and consumer applications,” Dedrone CEO Aaditya Devarakonda said. “However, in the wrong hands, a drone’s accessibility, capabilities and ease of flying make it especially suitable for hacking, surveillance and terrorism.”
“Quite simply, this is cutting edge-technology delivering a massive difference to governments, businesses and critical national infrastructure,” TempoCap managing partner Olav Ostin said. “It’s a market that is growing rapidly, and we’re investing in the best company in this sector.”
Philipp Meindl, Investment Partner at TempoCap added: “The impact of illicit drone usage has been felt by thousands of people and organizations and unfortunately, it’s a threat that’s only going to get more prevalent as drones become more widespread. We’re excited to address this challenge head-on.”
Last year, Dedrone purchased Battelle’s DroneDefender counter-drone rifle, including all associated assets and intellectual property. The acquisition led to Dedrone’s launch of a consultancy, Dedrone Defense, specializing in services and solutions for U.S. federal agencies, including the Department of Defense.
Dedrone is – according to a company press release “the market leader in airspace security.” Dedrone’s counter-drone system is trusted by critical infrastructure, government operations, military assets, correctional facilities and enterprises to protect against unauthorized small drones. With flexibility to host in the cloud, or on premise, Dedrone’s SaaS technology combines machine-learning software with best-in-class sensors and effectors, to provide early warning, classification of, and mitigation against all drone threats. Dedrone systems are deployed by hundreds of customers globally. Established in 2014, Dedrone is headquartered in San Francisco, with operations in the Washington, D.C.-area, Columbus, Ohio, London and Germany.
TempoCap is a leading European technology investor in fast-growing sizeable businesses. TempoCap offers primary capital for companies to accelerate growth as well as attractive and flexible liquidity solutions for sellers (entrepreneurs, venture capitalists, corporates). In addition to single asset investments, TempoCap advised funds acquire secondary direct investments by purchasing entire portfolios of investments from various type of investors including venture capital funds, corporates, banks or prominent business angels.
Jason is a longstanding contributor to DroneLife with an avid interest in all things tech. He focuses on anti-drone technologies and the public safety sector; police, fire, and search and rescue.
Beginning his career as a journalist in 1996, Jason has since written and edited thousands of engaging news articles, blog posts, press releases and online content.
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