Edgybees has announced it has raised $9.5M in Series A funding for its real-time geo-registration technology. The funding comes a few months after receiving $950 million from the US Air Force’s IDIQ (indefinite-delivery/indefinite-quantity) award.
The funding round was lead by Seraphim Capital with support from new investors Refinery Ventures, LG Technology Ventures, and Kodem Growth Partners, and existing investors OurCrowd and Verizon Venture Partners.
The funding will drive product innovation, expand the global adoption of its technology, and support an aggressive hiring strategy.
Many drone applications rely heavily on the drone’s live feed to find a missing person or keep ahead of a wildfire. The issue with this live footage is that it lacks geo-tagging, and the geo-tagging that is done isn’t accurate and takes extra time. This results in slowed operations and possibly deadly consequences due to the lack of accuracy.
This is where Edgybees’s platform comes into play.
Edgybees’s high-precision geo-registration platform allows drone pilots flying in emergencies to have the live-streamed video captured by the drone to be automatically and accurately tagged. This allows for a great understanding of what ground teams have to come up against, improving responses and safety.
Adam Kaplan, cofounder and CEO of Edgybees, shared:
“Edgybees software is the missing link in the Aerospace and Space Economy. We’ve seen tremendous growth in advanced drone delivery, homeland security, and space technologies during the pandemic. With Edgybees’ powerful high-precision geo-tagging of real-time video feeds, patients can have medicine delivered on-time without leaving their homes, search and rescue teams have access to the vital aerial information needed to save lives, and public safety and critical infrastructure industries can make crucial decisions in real-time. We appreciate the support from our new investors and will leverage this financing to continue to drive innovation.”
The platform only takes 120 milliseconds to compare the drone footage with satellite images, identify points of interest in the footage using the 3D image created by the drone and satellite, and then display it on the drone pilot’s screen.
The solution is 100% software, meaning it can be integrated across many different drones and many different interfaces. An API is also available to those that are wanting to add their own data into the equation to better suit their needs.