U.Ok.-based Altitude Angel, main UTM (Unmanned Visitors Administration) expertise supplier, is the most recent to obtain a brand new inflow of funding as VC funding within the drone business continues. Altitude Angel has raised £4m ($5.3m US) from certainly one of Europe’s largest VC buyers, Octopus Ventures.
“The newest fundraising concludes Altitude Angel’s sequence A spherical, led by Octopus Ventures and current investor Seraphim Capital. It additionally brings the entire invested in Altitude Angel in 2020 to £7.05m ($9.4m),” says an Altitude Angel announcement.
It’s been a stellar yr for VC funding within the drone business. The $100 million raised by U.S. drone producer Skydio set an business file: investments in drone manufacturing, software program, unmanned visitors administration, and sensors proceed at an unimaginable fee. In the previous few months, greater than $60 million in capital funding has flowed to drone business corporations.
Altitude Angel has emerged as an business chief, successful UTM contracts and deploying its options world wide. The extra funding will assist it to develop. “The funding will permit Altitude Angel to capitalise on its popularity because the world’s chief in creating and deploying native and nationwide UTM platforms, permitting it to additional develop its worldwide presence and in doing so, speed up the secure and safe use of drones in skies throughout the globe,” says the announcement. “Following the opening of its Dutch HQ in September, the corporate can be opening places of work native to its worldwide companions along with growing its presence in markets selling UTM progress by means of H1 2021.Octopus Ventures’ Zoë Chambers will be a part of the Altitude Angel board, which is chaired by former Microsoft govt Pieter Knook.”
Zoë Chambers, deep tech investor at Octopus Ventures, mentioned: “We’ve been speaking in regards to the potential of drones to radically rework all types of industries for a very long time now, because the variety of purposes is large, however for it to be viable, we want a system that may handle drones and, ultimately, different forms of unmanned air visitors at scale.
“Altitude Angel’s expertise solves this downside and permits extremely automated drones to be safely built-in inside a nation’s airspace and, in doing so, permit drones for use to survey infrastructure, ship small parcels, and even ship necessary medical provides, corresponding to donor organs, with out disturbing regular air visitors.
“The market alternative is gigantic, and we firmly consider Altitude Angel’s UTM platform will grow to be the blueprint for drone integration and the infrastructure layer for an unmanned air visitors community throughout the globe. Richard and his staff have already made significant progress in direction of this aim and we’re excited to get to work to assist realise their imaginative and prescient.”
Richard Parker, Altitude Angel, founder and CEO added: “Altitude Angel has persistently damaged new floor within the growth and deployment of Unified Visitors Administration expertise, pioneering the mixing of UTM inside current ATM (Air Visitors Administration) methods and networks. Our partnership with Octopus Ventures and the funding they’ve made in our enterprise will permit us to considerably construct on the foundations we’ve spent the previous years laying.
“The substantial investments made in our firm all through 2020 – throughout a time of immense globally instability – display the strong foundation for the enterprise we’re constructing and means we are able to focus extra on accelerating our progress and enlargement plans, strengthening our current resolution portfolio and proceed to ship on our imaginative and prescient for the way forward for automated transport. As international locations world wide rebuild from the influence of COVID, we’re going to assist them build-back larger, stronger and, most significantly: geared up to take care of tomorrow’s skies.”
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, knowledgeable drone providers market, and a fascinated observer of the rising drone business and the regulatory surroundings for drones. Miriam has penned over three,000 articles targeted on the business drone house and is a world speaker and acknowledged determine within the business. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand new applied sciences.
For drone business consulting or writing, Electronic mail Miriam.
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