After Airware's Demise, Consolidation Looms For The Commercial Drone Industry » Drone Accelerator
Drone Major Group
by on November 2, 2018
The sale of the assets of Airware, a leading drone software company, brings to an end one of the most promising venture-capital funded startups in the nascent drone industry, highlighting the looming consolidation ahead.
France’s Delair Tech announced on Tuesday that it would purchase the critical assets of Airware, including its Redbird analytics software and an installed base of customers and dealers worldwide. An auction house is selling other assets today. Airware’s approximately 120 employees were laid off in September.
It is a disappointing end for a company that emerged as an early darling of venture capital investors, raising $118 million from 2013 to 2018 with an additional undisclosed 2017 investment from Caterpillar Ventures. It ranks as the third-largest venture capital funded startup worldwide. Only China’s DJI Innovations and 3D Robotics of Berkeley, California, gained more funding.
Continue>https://www.forbes.com/sites/philipfinnegan/2018/10/31/airware-drone-consolidation/#79c5d9b9d305
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