Category Archives: Business News

European Commission Announces $77M Funding for European Counter-UAS Projects

The European Commission last week announced over €1 billion in funding for 54 additional defence projects through the European Defence Fund, bringing the total EU budgetary investments to more than €3 billion ($3.3BN) in collaborative defence R&D projects since the start of the EDF Regulation in May 2021. This new round includes over €71 Million ($77 Million) for European Counter-UAS (E-CUAS). Continue reading

EchoFlight Radar Integrated Into American Aerospace’s FAA-Approved BVLOS Unmanned Aircraft

Echodyne, the radar platform company, has announced that its EchoFlight radar is integrated into the American Aerospace Technologies, Inc. (AATI) AiRanger aircraft, which obtained a waiver from the Federal Aviation Administration (FAA) last week for commercial Beyond Visual Line-of-Sight (BVLOS) flight operations. Continue reading

Aerial Intelligence Company SwissDrones Closes Series B Growth Funding

Aerial intelligence company SwissDrones has announced the closing of its Series B equity growth funding round, securing over USD 10 million from a consortium of investors including aviation investor DiamondStream Partners, Chevron Technology Ventures, Ingleside Investors, and a continued commitment from existing shareholders, marking another significant milestone in the Company’s rapid development. The transaction closed on April 2, 2024. Continue reading

Xtend Raises $40m after Drone Success in Gaza

Israeli assault and surveillance drone manufacturer Xtend has completed a $40 million Series B financing round after the drones it has developed have proven their capabilities in the Gaza war in dense urban fighting by IDF units. The company has not disclosed its valuation in the financing round but according to industry sources its valuation has risen to $110 million. Continue reading

Verizon Frontline and NOAA to Partner on Advanced Disaster Response Research

The National Oceanic and Atmospheric Administration (NOAA) and Verizon Frontline have signed a three-year Cooperative Research and Development Agreement to explore new strategies to rapidly deploy uncrewed aircraft systems to collect and distribute imagery of damage resulting from severe storms such as tornadoes or hurricanes. Continue reading