MatrixSpace, a Burlington, MA-based AI collaborative sensing solution, announced that it raised $10 million in Series A funding, bringing its total funding to $20 million since its first year of operation in 2020.
The round was led by the Raptor Group, with participation from Intel Capital. Rob Broggi, Partner at Raptor Group, will join the MatrixSpace Board of Directors.
The funding will accelerate technology advancements, expand customer adoption, and drive revenue growth.
MatrixSpace is revolutionizing radar technology with its compact, AI-powered system that digitizes the outdoors, dramatically extending the range of human senses over long distances to a degree previously unavailable.
Quote from Gregory Waters, Co-Founder & CEO of MatrixSpace "We're honored to be moving forward with such a highly capable team of investors, new board member and advisors. After a meaningfully oversubscribed round, the MatrixSpace team can accelerate delivery of many compelling new solutions to customers."
Company: MatrixSpace, Inc.
Round: Series A
Funding Month: June 2023
Lead Investors: Raptor Group
Additional Investors: Intel Capital
Company Website: https://matrixspace.com/
Software Category: AI Collaborative Sensing Solutions
About the Company: MatrixSpace is re-imagining radar. The company addressing the next generation of AI-enabled sensing so that objects can be identified, and data collected in real-time - no cloud access required. They building the smallest radar system to provide new levels of integrated outdoor surveillance in 4D (the size, location, and movement of objects in time) that makes it accessible to a broad range of public and private enterprises. MatrixSpace was a winner of the 2023 AUVSI XCELLENCE Awards for XCELLENCE in Technology - Enabling Components & Peripherals.