Amidst increasing airspace security threats, Dedrone says it is experiencing “unprecedented growth” as it closes $30 million in Series C-1 financing. The latest funding announcement comes on top of the $30.5 million Series C funding in December 2021. The company has pointed to demand from law enforcement, public venues, critical infrastructure and nation states seeking to improve their airspace security.
The C-1 funding was led by public safety tech company Axon, alongside Aqton Partners, Menlo Ventures, Felicis Ventures, Target Partners and several individual entrepreneurs from Silicon Valley.
Series C funding is one of the stages in the capital-raising process by startups and is focused on scaling an already successful and established company, to help it grow quickly. Series C rounds proceeds tend to be used for entering new markets, research and development, or acquisitions of other companies.
Dedrone will use the funding to continue to grow its global team, including a second office in California, while expanding its multi-sensor fusion airspace security solution for Counter-Uncrewed Aircraft systems.
“As more and more drones enter the skies, maintaining airspace security has become a vital function of national and local governments, law enforcement, critical infrastructure, public venues and much more. This fact is illustrated by the White House’s recent Domestic Counter-Unmanned Aircraft Systems National Action Plan to protect against nefarious drone activity,” said Aaditya Devarakonda, CEO of Dedrone.
“This need to better secure airspace has been a driving factor in Dedrone’s exponential growth in 2022; we are on track to double our revenue projections for the year and triple new hires in the US, including building a focused engineering team in California. Now is the time to ensure we continue to deliver the most robust, accurate and technologically advanced airspace security solution to our customers around the world.”
The company’s solution is designed to detect, identify, locate, analyse and mitigate nearly 300 different drone types across more than 65 different manufacturers. Its technology, which can operate cloud-based or on-prem/air-gapped, includes AI/ML-based detection capabilities, fusion tracker software, sensors, mitigation functionality and advanced analytics. Dedrone recently launched its mobile solution, DedroneRapidResponse, which can be deployed in under 30 minutes to “ensure uninterrupted airspace protection of outdoor events within a five-kilometer radius”.
“Dedrone has long been a market leader and, over the last six months, commercial demand has accelerated to unprecedented levels,” said Venky Ganesan, Partner at Menlo Ventures. “Dedrone continues to deliver the kind of airspace security solutions that are most needed around the world today, which is why we continue to be a proud investor.”