Investment

Investment

Magnesium acquires UAS software provider Cyberhawk

Cyberhawk, a provider of UAS inspections and asset visualization software for energy infrastructure, has announced that it has been acquired by funds advised by Magnesium Capital LLP. According to Cyberhawk, the transaction will provide more growth capital to fund further stages of software development, as well as U.S. expansion. “We are extremely proud to have established a globally renowned reputation and to be relied upon by many of the world’s largest energy companies,” says Cyberhawk CEO Chris Fleming.  

Canadian government invests $40 million in BlackBerry QNX for next generation of connected and autonomous vehicles

In an effort to establish Canada as a global leader in cybersecurity and automotive software for connected and autonomous vehicles, the Government of Canada has announced that it will invest $40 million in BlackBerry QNX to develop safe and secure software systems for the next generation of connected and autonomous vehicles. BlackBerry QNX, which is a business unit of BlackBerry Limited, will create more than 800 new middle class jobs in Canada over the next ten years, with plans to maintain nearly 300 more. The company will also provide new skills development and learning opportunities to help train Canadians for the jobs of tomorrow, and keep the country competitive in today’s global economy.
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Ike believes self-driving trucks can help solve challenges plaguing trucking industry

A self-driving truck startup called Ike has announced that it has raised $52 million in Series A financing. Ike notes that a number of factors such as a shortage of drivers, new regulations, growing accident rates, and the rise of ecommerce are having a major impact on the trucking industry, but the company believes that self-driving trucks can help solve these challenges. “We came together over a passion for trucking, and created Ike with a mission to make trucks safer, truckers more valuable, and trucking more efficient,” Ike says in a company blog post.

Texas Department of Transportation to create Connected and Autonomous Vehicle Task Force

The Texas Department of Transportation (TxDOT) has announced plans to create a Connected and Autonomous Vehicle (CAV) Task Force, which will serve as a central point for CAV advancement in Texas. The task force will serve as a one-stop resource for information and coordination on all ongoing CAV projects, investments and initiatives in Texas. It will also be used to document the efforts of both public and private entities, and help facilitate partnerships. Along with these responsibilities, the task force will also host industry forums and report lessons learned to enable progress and encourage more collaboration.

Baraja to use latest funding to scale production of tech for autonomous vehicles

Known for developing Spectrum-Scan LiDAR for autonomous vehicles, a company called Baraja has announced a Series A investment of $32 million that it will use to scale production, hire talent and continue its mission to enable safer autonomous driving. Headquartered in Sydney, Australia, and with plans to grow its offices in San Francisco and Shanghai, Baraja recently launched a novel LiDAR system that creates powerful eyes for self-driving vehicles using prism-like optics and shifting wavelengths of light. Baraja says that since bringing its Spectrum-Scan LiDAR to market, it has worked with the world’s top autonomous technology companies.

DOT's BUILD Transportation Grants program awards $5.3 million to autonomous vehicle project planned for Las Vegas

An autonomous vehicle project planned by the City of Las Vegas and Regional Transportation Commission of Southern Nevada in the Las Vegas Medical District has been awarded $5.3 million by the U.S. Department of Transportation’s Better Utilizing Investments to Leverage Development (BUILD) Transportation Grants program, according to the Las Vegas Review-Journal.   Expected to begin late next year, the project, known as GoMed, will provide autonomous and connected vehicle service around a four-mile route between the Las Vegas Medical District and the Bonneville Transit Center downtown.
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Robotiq to use funding to enhance its standing in collaborative-robotics market

Robotiq, which provides tools and software for the collaborative-robotics market, has announced that it raised $31 million in funding during its first round of institutional financing. The funding will be used to develop products, expand internationally, and enhance support of the company’s partner ecosystem. Robotiq develops equipment such as specially designed, plug-and-play “grippers” that can handle manufacturing tasks previously done by human hands. The company also develops force sensors, camera technology and related software, which can be used to help with a variety of manufacturing tasks such as picking up and placing certain components or products, light assembly, finishing, and quality testing.

WhiteFox to use latest funding to help advance its mission of safely integrating UAS into airspace

WhiteFox Defense Technologies Inc. has raised an additional $12 million in a Series Seed round, bringing the total investment in the company to $14 million so far. WhiteFox says that it will use this funding to scale its operations, prepare to launch new product lines into the market and continue to develop its proprietary technology to advance its mission of safely integrating UAS into the airspace. “This is an enormous step forward for safely ushering drones into the national airspace system,” says Luke Fox, CEO of WhiteFox Defense Technologies.

Automated drone startup Airobotics receives $30 million in funding

​Automated drone startup Airobotics has announced a $30 million Series D round of funding, which brings its total capital raised to $101 million. Based in Israel, Airobotics says that it will use this round of funding to further scale its operations in the U.S. and Australia. Recently, Airobotics launched its North American headquarters in Scottsdale, Arizona. From this location, Airobotics will run all North America, South America and Central America operations. The Scottsdale office will also become the company’s global headquarters as Airobotics continues to scale.  Airobotics will also use this latest round of funding to continue servicing the mining industry and other industrial facilities across the world.

From Unmanned Systems Magazine: Drone industry expansion leads to acquisitions, partnerships

The commercial unmanned aircraft systems industry has been expanding for some years, with investments for the first time exceeding $1 billion in 2017, enabling deployment of experimental concepts in various sectors of the economy and military. However, this rapid investment of capital is shifting the industry from saturation into consolidation.   
A Matternet delivery drone. Boeing’s HorizonX Ventures arm has invested in the company. Photo: Matternet

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