Dedrone Announces Closure of $30M Series C-1 Financing Round
SAN FRANCISCO — Dedrone, a designer and manufacturer of counter-drone systems, announces it has closed $30 million in an oversubscribed Series C-1 financing round.
Led by public safety technology company Axon, this latest funding comes on the heels of the company’s $30.5 million Series C in December 2021. Aqton Partners, Menlo Ventures, Felicis Ventures, Target Partners and individual Silicon Valley entrepreneurs also participated in the round.
Dedrone says it will use the funding to continue to grow its team globally, including a second office in California, while also expanding its multisensor fusion airspace security solution which offers comprehensive capabilities to detect, identify, track and mitigate drones, whether fixed site, mobile or on-the-move.
As part of its growth strategy, Dedrone emphasizes it is committed to engaging the engineering expertise of Silicon Valley to solve critical, national security issues.
“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,” says 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 U.S., 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.”
Dedrone detects, identifies, locates, analyzes and mitigates nearly 300 different drone types across more than 65 different manufacturers, according to the company.
Its flexible solution, which can operate Cloud-based or on-prem/air-gapped, includes comprehensive 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,” says 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.”
Dedrone works across 36 countries including four of the G-7 nation governments; nine U.S. federal agencies, including the Department of Defense; more than 75 critical infrastructure sites; 20+ airports; and 50 correctional facilities worldwide. The company says it actively provides drone detection services for some of the most high-profile events around the world, and works closely with more than 35 law enforcement agencies.
“Dedrone is accelerating the path towards making the world safer from unauthorized and malicious drones,” adds Henrik Kühl, SVP of strategy and corporate development at Axon. “We performed extensive due diligence to evaluate multiple companies in this space. We were impressed by Dedrone’s technology, team and commercial traction.”
The post Dedrone Announces Closure of $30M Series C-1 Financing Round appeared first on Security Sales & Integration.
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