The investment reinforces uAvionix's mission to enable airspace awareness through high integrity aviation solutions for both manned and unmanned aircraftBIGFORK, Mont., Nov. 27, 2017 — (PRNewswire) — uAvionix Corporation – a leading provider of communications, navigation, and surveillance (CNS) solutions for manned and unmanned aircraft – announced today it has closed a $5 million round of funding led by new investor Airbus Ventures and with continuing participation from existing investors Playground Global and Redpoint Ventures. uAvionix also expects to announce additional participants in this Series B round shortly. This investment brings uAvionix's total funding to $10 million, further accelerating its product innovation and global expansion.
The new equity funding fuels expansion of the company's product line and services in both unmanned and manned aviation. uAvionix' signature capabilities for uniquely innovating lower size weight and power consumption (SWaP) products achieve attractive price points for a wide range of high quality products: since its founding in 2015, uAvionix has launched over 20 successful products including ADS-B transceivers, receivers, Mode A/C/S transponders, and GNSS position sources for general aviation, drones, and airport surface vehicles for both the certified and uncertified markets.
With its lead investment in this round, Airbus Ventures CEO Thomas d'Halluin joins uAvionix's Board of Directors. "At Airbus Ventures, we're constantly on the lookout for innovative companies enabling future airspace integration for both unmanned aircraft and eVTOL transportation," notes d'Halluin. "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."
Paul Beard, CEO uAvionix adds, "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. Now with the addition of Airbus Ventures and the powerhouse it represents, we couldn't be more thrilled about what will be achieved together."
uAvionix Media Contact:
(884) 827-2372 x204
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SOURCE uAvionix Corporation