Xtend, a Fort Walton, FL-based provider of a human/AI-operated drone system empowering operators to undertake complex missions safely, raised $20 million in Series A funding.
The round was led by Chartered Group, with participation from early investors including lool ventures, I3 Equity Partners, TPY Ventures, TAU Ventures, Surround Ventures, Homeward Ventures, NFX, and Top Ventures.
The company intends to use the funds to accommodate demand, accelerate its market traction with existing and new customers and expedite the development of its new generation Drone Operating System for autonomy and multi-drone applications in the defense and commercial spaces.
Company: XTEND REALITY EXPANSION LTD
Raised: $20.0M
Round: Series A
Funding Month: November 2021
Lead Investors: Chartered Group
Additional Investors: lool ventures, I3 Equity Partners, TPY Ventures, TAU Ventures, Surround Ventures, Homeward Ventures, NFX, and Top Ventures
Company Website: https://xtend.me/
Software Category: Human-guided, AR & AI-powered drone system
About the Company: Founded in late 2018 by Aviv and Matteo Shapira, who previously sold Replay Technologies to Intel, Rubi Liani, Founder of the Israeli Drone Racing League, and Defense and UAV Specialist Adir Tubi, Xtend provides a human-guided, AR & AI-powered drone system that enables operators to safely perform extreme missions with zero learning time. The company’s patented Drone Operating System (called XOS) and platforms allow any operator to expertly control a drone at extreme indoor and outdoor scenarios (including intercepting a rogue drone at 150Km/h in an airport, enabling firefighters to find survivors inside a collapsed building and replacing bomb squads’ dealings with Improvised Explosive Devices.) The company has a Washington DC sales office and R&D center in Israel.
Source: https://www.finsmes.com/2021/11/xtend-raises-20m-in-series-a-funding.html