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.
“We’re inspired by what drones offer society, from aiding emergency response teams and conservation efforts, to improving internet access - but to unlock their maximum potential for good, we must first protect their airspace.”
Fox adds that “it’s a mission we tirelessly work toward realizing, but like any major undertaking, it can’t be achieved without the necessary resources, which is why we’re grateful to our investors for supporting the development of our industry-leading technology and sharing our vision of advancing drone technology to benefit society.”
This latest financing round was led by JAM Capital LLC, which is a capital fund that supports entrepreneurial businesses specializing in technology.
“We are thrilled to be a part of the WhiteFox team and mission to provide drone airspace security. We are very pleased with the work that WhiteFox has done,” comments John Schmidt, managing partner at JAM Capital LLC.
“They are taking their technology to new heights and are providing a needed solution in the marketplace. With the combination of their team, intellectual property, and drive; we have no doubt that they will be successful.”
Other investors during this latest financing round included Stage Venture Partners, Okapi Venture Capital, Serra Ventures and OCA Ventures.