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Dual-Use Tech Roundup - Flight, AI, Cybersecurity & Space
7 February 2022 - Featuring Electra.earo, SparkCognition, Daedalean, Anitian & Radian Aerospace
The electric vehicle revolution is not exclusive to cars. Electra.aero manufactures hybrid-electric airplanes that are meant for sustainable urban and regional flights. These vehicles are classified as electric short takeoff and landing (eSTOL) airplanes and come with other features such as pilot assistance systems. Lockheed Martin Ventures led the company’s $20 M Series A venture round of funding on January 18th, 2022. This funding will go towards facilitating the company’s first successful flight later this year.
SparkCognition has developed an AI based software that utilizes machine learning to analyze their client’s databases. This platform recognizes trends and provides insights based on the given data. The company raised $123 M in Series D funding on January 25th, 2022. March Capital, Doha Venture Capital, B. Riley Venture Capital, Boeing HorizonX Global Ventures, and Temasek Holdings all participated in this round. The funds from this round will be put towards sales and marketing as well as research and development.
Swiss based startup, Daedalean, has developed an autonomous piloting system that utilizes a combination of computer vision, AI, and robotics to make flying safer. The company raised $58 M (CHF 53 M) in Series B venture funding on January 17th, 2022. Investors in this round include Redalpine Venture Partners, Carthona Capital, Amino Capital, and Honeywell Ventures. These funds will be put towards developing the company’s machine-learning visual guidance and navigation system.
Cybersecurity company Anitian offers cloud security and compliance solutions. These solutions are geared toward simplifying security and compliance systems as well as reducing the financial burden of these processes. The company raised $55 M in Series B funding, on January 20th, 2022, in a round led by Sageview Capital. Sageview co-founder and partner Ned Giluly will also be joining the board of Anitian. The funds will be used to fuel expansion and further development of these cybersecurity solutions.
Radian Aerospace: 🪐
Radian Aerospace has developed a reusable orbital vehicle. These vehicles have takeoff and landing capabilities similar to conventional aircraft and take passengers to low Earth orbit. The company closed its $27.5 M Seed round of funding on January 19th, 2022. This round was led by Fine Structure Ventures and saw participation from Ultratech Capital Partners and ten other investors. This funding will be put towards developing Radian One, a crew carrying orbital space plane.
What We’re Reading:
MIT Dual-use Ventures Incubator - MIT Innovation Initiative
MIT Dual-use Ventures IAP Course - MIT Innovation Initiative Events
The Semiconductor Ecosystem - Explained - Steve Blank
IDC: Chip shortages due to lack of investment in right fabs - The Register