According to a story by DroneLife.com, Iris Automation has announced $13 million in Series B funding.
Iris develops advanced detection systems that bolster Detect-and-Avoid (DAA) capabilities which, in turn, enable safer commercial drone operations.
“We see explosive demand in energy, agriculture, construction, security and logistics for long-range and remotely operated drones," says David Cowan, board member of Iris. "Iris’ collision avoidance product, the only on-board, visual aircraft recognition system to receive government approval, provides a critical piece of air safety needed to unlock this enormous market.”
New investors Sony Innovation Fund and Verizon Ventures join follow-on investors Bessemer Venture Partners, Bee Partners and OCA Ventures.
With the funding, the company plans to:
- Expand machine learning and AI capabilities and testing to improve and extend its Casia system’s performance envelope.
- Continue to participate in the Federal Aviation Administration’s BEYOND program, focused on enabling beyond visual line of sight operations with Unmanned Aircraft Systems (UAS) to advance airspace integration. BEYOND will demonstrate operations that are repeatable, scalable and economically viable with specific emphasis on infrastructure inspection, public safety operations and small package delivery.
- Continue to improve detection and classification capabilities of the Casia system to support expanded use cases, operational environments and aircraft compatibility.
- Build out fulfillment capabilities to produce, deliver and support the growing installed base of aircraft OEM partners and end use customers, and enter new markets associated with aircraft safety.
Read more here.