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Airspace Link completes a $23M Series B Round, led by Avanta Ventures, to accelerate the safe integration of drones
Friday, June 24, 2022
DETROIT, June 22, 2022 /PRNewswire/ -- Airspace Link Inc, a leading provider of drone safety software and data solutions, announced the completion of a $23M Series B capital raise led by Avanta Ventures with new investment from Morningside, Caprock, and follow-on investment from Altos Ventures, Indicator Ventures, 2048 Ventures, Detroit Venture Partners, and Thales Group.
Founded in 2018 in Detroit, Michigan, Airspace Link has seen rapid growth over the past few years, as it drives the industry forward in safely integrating drones into communities at scale. The company has raised a total investment of $37M, expanding its impact and value for partners and customers exponentially in the past year alone. The team has put that capital to work, rapidly expanding products and services while growing from 17 employees to near 50.
"Drones are an exciting new form of mobility, with advanced hardware now available at scale. Airspace Link provides the safety infrastructure for drones, focusing on the precise data, software, and analytics required to support scalable operations. Airspace Link's products and services, through the AirHub® Platform, are utilized in all aspects of the industry, whether for informing safety cases, compliance, policy decisions, risk management, or insurance modeling. We're excited to rapidly expand our offerings and societal impact with this infusion of capital. " says Michael Healander, Co-Founder & CEO of Airspace Link.
As the venture capital arm of CSAA Insurance Group, a AAA insurer, Avanta Ventures is aligned with one of the top personal lines of property and casualty insurance underwriters in the United States.
"Our investment in Airspace Link aligns with our deep focus on mobility innovation, safety, and risk management," says David Li, Principal at Avanta Ventures. "We look forward to working with Airspace Link to accelerate aerial mobility in the safest manner for consumers and communities at scale."
With this funding, Airspace Link will continue to invest in and expand on initiatives to support the safe scaling of drone usage through:
-- Delivering safe, performant, and neutral Supplemental Data Service
Provider (SDSP) and UAS Service Supplier (USS) capabilities to enable
the acceleration of UAS Traffic Management (UTM) ecosystems.
-- Partnering with and supporting drone manufacturers, operators, software,
and service providers to jointly execute on our shared vision.
-- Strategically expand services globally, with partners like Thales Group
and Esri, to support our current customers' expansion and new market
development.
-- Expanding Airspace Link's Federal Aviation Administration (FAA)
public-private partnership, through programs such as LAANC USS, BEYOND,
Remote ID, and more initiatives in the United States.
-- Continuing to partner with State & Local Government to drive investment
supporting drone infrastructure, enabling them to unlock economic,
environmental, and social equity objectives delivered through advanced
aerial mobility.
"A great validator of go-to-market strategy has been the excitement and buy-in we've seen from investors and partners on our financial business model and partner-centric approach. The confidence of investors, as shown by this capital raise, will enable us to meet the rapidly growing demand we're seeing in the market, both in the U.S. and globally." said Bill Johnson, CFO of Airspace Link.
Airspace Link's vision is to create a world where the safe integration of drones fuels human progress, advancing social equity, the environment, and the economy. Founded in Detroit in 2018 by CEO Michael Healander, Airspace Link is one of the few FAA Approved UAS Service Suppliers of the Low Altitude Authorization & Notification Capability (LAANC) in the United States. Airspace Link's cloud-based platform, AirHub®, provides the digital infrastructure required to support the safe use of recreational and commercial drones in communities at scale, supporting the growth of drone operations, drone service providers, drone manufacturers, package delivery, and air taxi deployment in the future. Learn more at www.airspacelink.com.
Press Contact
Casie Ocana, Casie.ocana@airspacelink.com
Vice President, Marketing, Airspace Link
View original content to download multimedia:https://www.prnewswire.com/news-releases/airspace-link-completes-a-23m-series-b-round-led-by-avanta-ventures-to-accelerate-the-safe-integration-of-drones-301573356.html
SOURCE Airspace Link
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