Drone startup Iris acquires $ 13 million in Sequence B funding

Source: Iris

Iris Automation, a drone startup, has risen after announcing a $ 13 million Series B financing round today.

Iris develops advanced detection systems that support the Detect and Avoid (DAA) functions and in turn enable safer commercial drone operations.

New investors Sony Innovation Fund and Verizon Ventures join follow-up investors Bessemer Venture Partners, Bee Partners and OCA Ventures.

“We are very excited to have the support of our current and new investors, especially during this unprecedented global pandemic,” said Iris CEO Jon Damush said.

“We have always known that our approach to the problem solves a critical missing link for non-piloted systems, and we plan to use this capital to further develop our capabilities and improve security for non-piloted systems as global regulators work to Integrate UAS into existing airspaces. The investment clearly demonstrates investor confidence in the growth of the sector and in particular the role of Iris in the ecosystem. “

Damush says the drone launch with the fresh infusion of money:

  • Extend the functions and tests for machine learning and AI to improve and expand the scope of the Casia system.
  • Continue to participate in the Federal Aviation Administration’s BEYOND program, which aims to enable out-of-sight operations with Unmanned Aircraft Systems (UAS) to advance airspace integration. BEYOND will demonstrate operations that are repeatable, scalable and economical with a focus on infrastructure inspection, public safety operations and small package delivery.
  • Continue to improve the detection and classification capabilities of the Casia system to support expanded use cases, operating environments and aircraft compatibility.
  • Build fulfillment capabilities to produce, deliver and support the growing number of installed aircraft manufacturers and end users, and open up new aviation safety-related markets.

Speaking of drone startup investment, David Cowan, partner at Bessemer Venture and board member of Iris said:

“We see explosive demand in the energy, agriculture, construction, security and logistics sectors for long-range and remote-controlled drones. Iris’ collision avoidance product, the only on-board aircraft visual detection system approved by the government, provides a crucial level of flight safety necessary to tap into this vast market. “

Iris on the news

October: The drone startup works with the city of Reno as part of the FAA UAS Integration Pilot Program (IPP) to develop a river search and rescue program to equip the city’s firefighters with drone technology for life-saving rescues should.

October: Transport Canada approves a special flight certificate that enables expanded operations with Iris Automation’s Integrated Drone Detection and Avoidance Solution (DAA). With the approval of the second Special Flight Operations Certificate (SFOC) for BVLOS (Beyond Visual Line of Sight) flights in uncontrolled airspace, IRIS will enter into a partnership with MVT Geo-solutions.

April: MVT Geo-solutions and IRIS work together successfully to obtain the first Transport Canada’s special flight operations certificate to be used only on board Detect-and-Avoid.

Jason is a longtime DroneLife employee with an avid interest in all things technical. He focuses on anti-drone technologies and the public safety sector. Police, fire and search and rescue.

Jason began his career as a journalist in 1996 and has since written and edited thousands of exciting news articles, blog posts, press releases, and online content.

Email to Jason
TWITTER: @JasonPReagan


Subscribe to DroneLife here.

Related Articles