Singtel Innov8, the venture capital arm of Singaporean telecom firm Singtel, has led the $20-million Series A funding round in Silicon Valley-based drone security solutions provider Airspace Systems Inc.
In an announcement, Airspace Systems said, the latest funding round was also joined by s28 Capital and previous investors Shasta Ventures and Granite Hill Capital Partners. As part of its investment, Jeff Karras, Managing Director of Investments at Singtel Innov8, will join Airspace’s board of directors.
The company will use the proceeds to produce the Airspace Command Center, a comprehensive drone defense system, and expand its Silicon Valley-based machine vision, autonomous navigation, and embedded systems teams.
Founded in 2015, the US startup harnesses artificial intelligence, machine vision, and deep-learning neural networks to defend against the most complex drone threats faced by public event venues, military personnel, and law enforcement agencies.
“We are creating something like a firewall in the sky… to keep the good drones in and the bad ones out,” said Co-founder and CEO Jaz Banga
The Mobile Airspace Command Center (MAC2), Airspace’s latest solution, identifies potential threats in the sky. When a rogue drone is spotted, it deploys a variety of counter measures including the Airspace Interceptor, which autonomously navigates and reacts to a rogue drone’s every move and then safely captures and removes enemy drones to avoid collateral damage.
“Demand for protecting stadiums, commercial buildings, power plants and, for that matter, any other public venues from potential drone threats is growing rapidly,” said Singtel Innov8’s Karras.
Singtel Innov8 invests in and partners innovative tech start-ups worldwide. It has a fund size of $250 million and its own set of decision making, approval and funding processes. Headquartered in Singapore, the VC firm has offices in San Francisco and Tel Aviv.
Last month, Singtel Innov8 also made a strategic investment in Attivo Networks, a US-based firm that develops and provides deception solutions for cybersecurity defence.
Attivo said it will use the funding to accelerate expansion into Asia Pacific markets.