The mission of Iris Automation is to make flying safer by creating automated collision avoidance technologies. So far, the company has created these ‘Detect and Avoid’ (DAA) systems using lightweight cameras and processing systems for part 107 drone operators to allow them to fly more safely beyond the line of sight. In the future, this technology may enable safe flight for many kinds of urban aircraft in highly trafficked airspace.
On December 15th, Iris Automation announced that it has now raised a total of $13 million in its Series B venture capital funding. The funding includes follow-on investment by Bessemer Venture Partners, Bee Partners, OCA Ventures, and new investors Sony Innovation Fund and Verizon Ventures. Said Jon Damush, CEO of Iris: “We are incredibly excited about this show of support from our current and new investors, particularly during this unprecedented global pandemic. We have always known that our approach to the problem solves a critical missing link for unpiloted systems, and plan to deploy this capital to further expand our capabilities and improve safety for unpiloted systems as global regulators work to integrate UAS into existing airspaces. The investment clearly illustrates investor confidence in growth of the sector and specifically Iris’ role in the ecosystem.”
This announcement comes at a very opportune time, as regulators in congress recently acknowledged DAA technologies as essential to safely integrating unmanned aerial systems into National Airspace (within the Consolidated Appropriations Act of 2021). With the investment, Iris plans on expanding machine learning and AI capabilities, improving detection and classification capabilities for a wider range of environments and situations, and building out fulfillment capabilities to produce, deliver and support the growing installed base of aircraft OEM partners and end use customers.
Why it’s important: Automated Detect and Avoid (DAA) technologies represent an essential part of the future for safely operating VTOL and all kinds of aircraft within dense urban airspace. While intelligent algorithms will exist that will help direct and manage air traffic, DAA will add an extra layer of necessary protection that will even further improve aircraft safety. With this latest set of investments, Iris Automation places itself even further ahead in the market for creating and producing effective versions of this technology.
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Source // Iris Automation