CyPhy Works, a Massachusetts-based developer of advanced UAVs, announced the close of a $7 million financing round led by Lux Capital, with participation from General Catalyst Partners, Felicis Ventures, and several undisclosed angel investors. As part of the financing, Lux Capital Partner Bilal Zuberi will join the CyPhy Works board of directors.
CyPhy Works has developed a technology platform of easy-to-operate flying robots for applications in the military, civil, and commercial sectors. The company has so far announced two products on its platform: EASE (indoor hovering robot) and PARC (outdoor multicopter platform). CyPhy Works says that as part of this funding round, it will expand its development and deployment of UAVs in surveying and situational awareness for commercial sectors.
The Japanese Defense Ministry plans to adopt a new defense equipment production strategy, revamping the...
by Tactical-Life / Nov 11, 2013