uAvionix secures $5 million in latest round of funding
uAvionix has closed a $5 million round of funding that was led by new investor Airbus Ventures, and included participation from Playground Global and Redpoint Ventures, both of which are existing investors.
uAvionix says that this latest round of funding, which brings its total funding to $10 million, will be used to expand its product line and services in both unmanned and manned aviation.
“We wouldn’t be where we are today without the pioneering investment team of Playground Global and Redpoint Ventures, and we are honored they continue to believe in us and our mission and decided to invest further in this round,” says Paul Beard, CEO uAvionix.
“Now with the addition of Airbus Ventures and the powerhouse it represents, we couldn’t be more thrilled about what will be achieved together.”
Airbus Ventures CEO Thomas d’Halluin, who joins uAvionix’s Board of Directors thanks to Airbus’ lead investment in this round, adds, “at Airbus Ventures, we’re constantly on the lookout for innovative companies enabling future airspace integration for both unmanned aircraft and eVTOL transportation.
“In a remarkably short span of time uAvionix has emerged as both product- and thought- leaders in this critical space. Airbus Ventures is excited to come on board and help further propel its success.”
Since being founded in 2015, uAvionix has launched more than 20 successful products including ADS-B transceivers, receivers, Mode A/C/S transponders, and GNSS position sources for UAS, general aviation and airport surface vehicles for both the certified and uncertified markets.