Elsight’s latest $ 8.3 million financing round will fund product development and market growth, says CEO Yoav Amitai.
DRONELIFE wrote about Elsight’s Halo product earlier this year: the company’s flagship connectivity solution. Elsight’s powerful bidirectional algorithm breaks all types of data (video, audio, telemetry, etc.) into encrypted packets. Secure VPN tunneling is used to transmit over multiple cellular and RF-IP connections and to decrypt and recombine at the destination. The algorithm automatically detects any failed channels and seamlessly switches to the most suitable transmission method available. With this highly reliable connectivity solution, Elsight plans to become the leading provider of connectivity solutions for high-end commercial drones that enable out-of-sight (BVLOS) flights.
“We believe that having a secure, reliable C2 communications link, complemented by the ability to stream data in real time from any unmanned platform anywhere in the world, is key to commercial-scale UAS operations, from inspection to precision farming all the way to delivery and public safety, ”said a company press release on the latest Elsight funding round. “Our newest product offering, Halo, is already serving many types of UAVs / UGVs around the world to provide reliable connectivity from visual line of sight to operations out of visual line of sight. ”
DRONELIFE spoke to Yoav Amitai, CEO of Elsight, about the new funding round and where the company plans to expand its market. Amitai says while the company is open to all possibilities, the focus is on the US market. “Since we work directly with platform manufacturers, we can go anywhere – but I would say our strategic market is the US,” says Amitai.
“There are only a few reasons for this. First, US regulators appear to be making significant strides that will allow the drone ecosystem to grow rapidly. The many drone companies based in or targeting the US market and industry takeover of drone operations make the US the ideal market for us. “
According to Amitai, the recent release of the definitive rule on remote ID in the US shows the strength of the drone industry. “Like I said, the US [FAA] is taking important steps to make the drone ecosystem possible, ”says Amitai. “Last Monday’s permit is an excellent example of this. The technology is ready for the next step – now it’s just a matter of market formation and advancing regulation. “
“We see that building a business case with drone operations takes more than just a remote ID to create a scalable solution (ie a C2 communication channel). However, it is good that regulators haven’t restricted manufacturers there. “
Amitai says getting the new funding during the pandemic was a challenge, but Elsight was happy to tackle it. “The main effect [of the pandemic] was the fact that we couldn’t travel, so we made a virtual call the whole loop – it was an exciting experience, ”he says. “I want to thank our long-term investors – and the new ones who come to us – again for continuing to support us and believe in the direction we are going.”
Miriam McNabb is editor-in-chief of DRONELIFE and CEO of JobForDrones, a marketplace for professional drone services, and a fascinating observer of the emerging drone industry and the regulatory environment for drones. Miriam has written over 3,000 articles focusing on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam graduated from the University of Chicago and has over 20 years experience in high tech sales and marketing for new technologies.
For advice or writing on the drone industry, email Miriam.
Subscribe to DroneLife here.