Kassel / Berlin — Dedrone, the market leader in airspace security, has secured around $12.1 million (the equivalent of €10.3 million) in growth capital. The successful financing round was led by TempoCap, one of the largest European investment companies in the technology sector.
Founded in 2014 in Kassel, Germany, Dedrone is a software company already backed by investors such as Felicis Ventures, Menlo Ventures, Target Partners and John Chambers, former CEO of Cisco Systems and founder of JC2 Ventures. With the investment, Dedrone intends to further develop its drone detection, classification and defense technology to protect businesses and organizations worldwide from illegal drone activity. The drone defense system developed by Dedrone detects approaching drones with the help of radio frequency sensors and special camera and radar systems, the data from which is processed and analyzed by the intelligent DroneTracker software.
“Drone technology has evolved greatly in recent years. Drones are now used in disaster relief and medicine delivery, as well as for myriad applications by businesses and consumers,” explains Dedrone’s CEO Aaditya Devarakonda. At the same time, he warns of the dangers posed by the unmanned aerial vehicles: “In the wrong hands, drones can be very dangerous. They are easy to obtain and control and can be easily overlooked. They are used primarily for espionage, smuggling and terrorism.”
“We are simply dealing with cutting-edge technology that makes a huge difference to governments, businesses and critical national infrastructure,” says Olav Ostin, managing partner of TempoCap. It’s a fast-growing market, and we believe we’re betting on the best in the business.”
“Thousands of people and businesses have felt the impact of illegal drone use, and this threat will continue to grow. We look forward to tackling this challenge head-on,” adds Philipp Meindl, Investment Partner at TempoCap.
About Dedrone
Dedrone is the market leader in airspace security. Dedrone’s drone defense system protects critical infrastructure, governments, military installations, prisons and businesses around the world from unwanted drones. Dedrone’s SaaS technology can be flexibly hosted in the cloud or on-premise and combines machine learning software with market-leading sensors and defenses. The goal is to provide early warning, classification and defense against all drones threats. Dedrone was founded in Kassel in 2014. Since 2016, the company has been headquartered in San Francisco, with additional offices near Washington, D.C., in Columbus, Ohio, and London. www.dedrone.com
About TempoCap
TempoCap is one of the leading European investors in fast-growing companies in the technology sector. TempoCap offers capital to accelerate corporate growth as well as attractive and flexible liquidity solutions for entrepreneurs, venture capitalists and corporations. TempoCap has around 2 billion euros under management. In addition to investing in individual assets, TempoCap’s recommended funds make direct direct investments by purchasing entire portfolios from a variety of investors, including venture capital funds, corporations, banks or named partners. www.tempocap.com.