ALTITUDE ANGEL SECURES $4.5M SERIES A FUNDING FROM LEADING INVESTORS TO BOOST AUTONOMOUS DRONE FLIGHT
Reading, UK: 30/01/18: Altitude Angel, the drone management platform and airspace integration start-up, has today announced a USD $4.5m Series A funding round led by the Seraphim Space Fund, with participation from ADV and Frequentis AG.
This Series A round of venture funding enables Altitude Angel to bring its purpose-built GuardianUTM platform for U-Space and Unmanned Aircraft Traffic Management (UTM) into new territories. The Reading, UK-based business will also expand its on-the-ground commercial and engineering presence with new offices in Europe and North America, transitioning further into the aviation industry.
Altitude Angel as the platform of choice
GuardianUTM is already used by millions of people and drones around the world to obtain information about where it is safe to fly, get on-demand insurance and to interact with aviation stakeholders at airport towers or in air traffic control rooms. It’s fast becoming the platform of choice for national drone operations globally.
Altitude Angel’s geospatial database covers more than 80 countries and is a key component of its autonomous drone navigation system. This allows any drone to tap into its situational awareness database, helping them go beyond the line of sight of the operator. Altitude Angel’s long-term goal is to use its platform to enable millions of autonomous drones to fly – safely – without any human pilots.
“Drones have the power to revolutionise business and transform lives,” said Altitude Angel Founder & CEO, Richard Parker, also a board member of the Global UTM Association. “We’re at the start of an aerial revolution that’s driven by low-cost drone hardware. Altitude Angel’s technologies are key to unlocking their potential to be flown autonomously, without a human pilot, ensuring they’re safe and fit in with other aviation traffic and stakeholders.”
Underpinning industry credibility
Altitude Angel was founded in December 2014. The start-up employs a rapidly growing team of professional software engineers and dedicated aviation experts. Recent hires include Michael Gadd, who joins the company as Head of International Regulatory Affairs from the UK’s Civil Aviation Authority, where he was Policy Lead for UAS, boosting the team’s overall aviation experience and credentials.
James Bruegger, Managing Partner at Seraphim (who led the transaction), commented:
“As a specialist fund focused on space-tech, we see drones as forming an important element in the wider space-tech ecosystem. Much like air traffic control became a necessary precondition for commercial aviation to flourish, so too do we see unmanned traffic management (UTM) as a fundamental building block that holds the key to unlocking the enormous potential of the commercial drone market.
In Altitude Angel we’ve identified what we believe to be best-of-breed technology capable of meeting the stringent safety-critical standards that regulators will demand in order for autonomous drones to be fully integrated into commercial airspace. We look forward to working alongside Richard and the wider Altitude Angel team to help the company deliver on its tremendous potential.”
Mike Dimelow, Chief Investment Officer at ADV, commented:
“Altitude Angel is a solution that allows unmanned flying machines to operate. By getting this right, we’re going to create new industries and business models that we can’t even imagine today. The management team and industry partners supporting the business have the potential to create a generation-defining business. We’re very excited for the future.”
Hannes Bardach, CEO of Frequentis AG comments:
“With drones creating such exciting new opportunities, finding a way for them to safely coexist with manned aircraft is increasingly urgent, Altitude Angel’s leadership in building a harmonised framework for air traffic management (ATM) and unmanned traffic management (UTM) will enable organisations to leverage the potential of these technologies. This investment means Frequentis can lead the safe integration of these new aircraft into the airspace.”
About The Seraphim Space Fund:
Seraphim Space is the world’s only specialist space-tech venture fund. We focus on backing both space and aerial platforms collecting and communicating data from above, in addition to the broader enabling technologies that support the full space-tech ecosystem.
The £70M fund has pioneered a multi-corporate venture fund model, harnessing the collective experience and expertise of leading space industry players including the likes of Airbus, SES and Telespazio to provide the start-ups the fund invests in with unparalleled access to and guidance from the top echelons of the space sector.
Our team includes entrepreneurs who have scaled space-tech companies to billions of users and £billion-valued exits, alongside experienced venture capitalists who collectively have invested in more than 200 early and growth stage companies.
For more information, please visit: http://www.seraphimcapital.co.uk/
About Accelerated Digital Ventures (ADV):
ADV is a patient capital venture engine, created by operators and collaborators. Its team are entrepreneurs and business founders who have learnt the hard lessons and want to pay them forward. ADV provides a full-scale model for venture, across the business lifecycle. Offering access to capital, coaching, customers and corporates, ADV champions the innovators – the people who build the large ‘difficult’ businesses that the UK is uniquely positioned to foster. The complex, technical, global ones. The businesses that are solving real world problems.
Currently investing £150M (with an investment target of £1B), ADV takes the long view of business building, investing across the UK and across the funding lifecycle, to increase the number of UK startups, scaleups and ‘scalebigs’. ADV’s investors are British Business Bank, Legal & General and Woodford Investment Management. For more information, please visit: https://accelerated.ventures/
Frequentis is an international supplier of communication and information systems for control centres with safety-critical tasks. These control centre solutions are developed and distributed by Frequentis in the business segments Air Traffic Management (civil and military air traffic control, and air defence) and Public Safety & Transport (police, fire and rescue services, emergency medical services, vessel traffic and railways).
Frequentis maintains a worldwide network of subsidiaries and local representatives in more than fifty countries. The company’s products and solutions are behind more than 25,000 operator positions in over 130 countries. With this extensive portfolio, Frequentis is the leading provider of voice communication systems… all making our world a safer place every day!
For more information, please visit: www.frequentis.com