MatrixSpace Raises $10M in Series A Funding Round
by DRONELIFE Staff Writer Ian M. Crosby
AI collaborative sensing solutions leader MatrixSpace has announced its raising of $10M in Series A funding, for a total of $20M in funding since its first year of operation in 2020. The company will leverage this additional funding to further its technology advancements, customer adoption and revenue growth. The Series A round was led by venture fund Raptor Group, with participation from Intel Capital and a prominent set of technology executives.
MatrixSpace’s compact, AI-powered radar system amplifies the range of human senses over long distances to an unparalleled degree. The solution has a wide range of applications, such as critical infrastructure security, general aviation and transportation, multiple defense applications, and robotics. Its new MatrixSpace Radar demonstrates the company’s ability to provide AI sensing to markets previously unable to afford such technology.
Raptor Group Partner Rob Broggi, a seasoned advisor and operating executive with more than 30 years of experience, will join the MatrixSpace Board of Directors. “The MatrixSpace vision in AI Collaborative Sensing will completely change the way that people extend their senses in outdoor environments, creating safer and far more productive spaces on the ground or in the air,” said Broggi. “This helps human safety in any corner of the world and will dramatically change business models across large industries. We’re happy to help them accelerate into their growth stage.”
“Greg Waters and his team have outstanding track records of innovation and success in radio frequency technology, intelligent systems and AI,” said Intel Capital Managing Director David Johnson. “Starting with a clean sheet of paper, they are pioneering AI sensing solutions that integrate MatrixSpace’s very rich radar data across multiple vantage points to see objects and patterns that remain elusive to image sensors alone, all while remaining cost-effective. We’re thrilled to support the growth of MatrixSpace as they change the way we see the world.”
“We’re honored to be moving forward with such a highly capable team of investors, new board member and advisors,” said Gregory Waters, Co-Founder & CEO of MatrixSpace. “After a meaningfully oversubscribed round, the MatrixSpace team can accelerate delivery of many compelling new solutions to customers.”
Read more:
- MatrixSpace Radar: Cell-Phone Sized, High Performance, AI Sensor
- Radar for Advanced Air Mobility: Echodyne and Hyundai’s Supernal Partner
- Observation Without Limits (O.W.L.) Radar: AeroDefense’s Layered Airspace Security System
- DeTect’s Largest, Longest Range Surveillance Radar: Aircraft Detection for 30 Nautical Miles
Ian attended Dominican University of California, where he received a BA in English in 2019. With a lifelong passion for writing and storytelling and a keen interest in technology, he is now contributing to DroneLife as a staff writer
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
For drone industry consulting or writing, Email Miriam.
TWITTER:@spaldingbarker
Subscribe to DroneLife here.
[…] More… […]