Rapidly expanding counter-drone company Dedrone has closed an over-subscribed $30 million Series C-1 fundraising round that will serve to fuel its continued business expansion in the US and abroad. The successful recruitment of backers comes just seven months after the firm attracted $30.5 million in a December Series C effort.
The investor appeal of San Francisco-based Dedrone reflects the swiftly rising importance of counter-drone capabilities as the numbers and applications of both business and private UAVs taking to the skies continue multiplying. The company produces systems that detect, identify, locate, and if need be neutralize about 300 different models of craft produced by over 65 manufacturers. Its recently introduced mobile DroneRapidResponse unit can be deployed in less than 30 minutes, providing continual airspace protection within a 5-kilometer radius of a venue or event.
Backers of the Series C-1 funding round that closed this morning include public safety tech company Axon, as well as Aqton Partners, Menlo Ventures, Felicis Ventures, Target Partners and individual Silicon Valley entrepreneurs.
The new infusion nearly doubles the funding Dedrone has attracted within the past half year alone, as it works to keep pace with the rising demand for effective counter-drone systems by companies, administrations, law enforcement, and government clients around the world.
“As more and more drones enter the skies, maintaining airspace security has become a vital function of national and local governments, law enforcement, critical infrastructure, public venues and much more,” Dedrone CEO Aaditya Devarakonda. “This need to better secure airspace has been a driving factor in Dedrone’s exponential growth in 2022. We are on track to double our revenue projections for the year and triple new hires in the US, including building a focused engineering team in California. Now is the time to ensure we continue to deliver the most robust, accurate and technologically advanced airspace security solution to our customers around the world.”
In the eight years since it was founded, Dedrone has expanded its counter-drone activities across 36 countries. Customers include governments of four G-7 nationts, nine US federal agencies, more than 75 critical infrastructure sites, over 20 airports, and 50 correctional facilities. Amid its immediate plans to shift gears to meet demand is the opening of a second office in California.
“Dedrone has long been a market leader and, over the last six months, commercial demand has accelerated to unprecedented levels,” said Venky Ganesan, partner at Menlo Ventures. “Dedrone continues to deliver the kind of airspace security solutions that are most needed around the world today, which is why we continue to be a proud investor.”