Elsight announced the completion of a funding round, raising $8.3M to fund its growth through accelerating sales and marketing activities as well as offering further investment for ongoing product development.
This issue has closed oversubscribed with substantial support from shareholders and new institutional as well as professional investors, on the way to achieve Elsight’s vision of becoming a leading partner for top tier UAS companies who seek connectivity solutions for commercial beyond visual line of sight flights, under the approval of regulators around the globe.
“The advancements in both UAS technologies and the regulator’s approach to democratize commercial operations are the engine that propelled the unmanned economy to the significant growth we have seen throughout 2020. Elsight’s Trailblazing position in the connectivity sphere for commercial UASs, UAVs, sUASs, Drones, and UGVs, has proven itself, with our growing base of partners’ pushing our technology through rigorous BVLOS testing and operations. We believe that this has created a huge opportunity for platform manufacturers, who can use our fully mature and deployable connectivity technology to assist them with both shorten their time to market and certifying their platforms for commercial BVLOS operations. This fundraiser will help us reach an increasing number of drone manufacturers & service providers who want to operate BVLOS at scale and will also help us expand our product offering to solve the challenges of the market as they evolve. We believe that a secure, reliable, C2 communication link, topped by the option to stream data in real-time from any unmanned platform to anywhere in the world is key for commercial-scale UAS operations, from inspection and precision agriculture to delivery and public safety. Our latest product offering, Halo, already serves many types of UAVs/ UGVs around the globe, to provide reliable connectivity, from the visual line of sight to beyond visual line of sight operations. Halo’s ability to flexibly interchange between different IP links, and aggregate different networks into one pipe of communication, makes it the most viable solution for both commercial needs and regulators’ requirements. We are thrilled to announce this fundraiser and are ready to expand our market reach, enabling the commercial scale of unmanned services around the world. I would like to personally thank all of our existing and new investors and customers for believing in us and our
great team of professionals who works tearlessly to create great products and business that solve real-life challenges” says Yoav Amitai, CEO, at Elsight.
This new round of funding will be used to significantly expand sales and marketing efforts and developing our solutions further to support the ever-increasing needs of the market.
The areas that the company will focus on are:
- Expanded marketing and sales efforts to support market expansion.
- Further development of Halo capabilities and features to answer the most pressing communication and connectivity needs of unmanned platforms manufacturers and service providers.
Through 2020 Elsight has expanded rapidly, stabilizing the Halo platform to support the needs of the unmanned market, providing service to the leading UAS companies in the world. The Halo platform went through rigorous testing with regulators in the US, Singapore, Europe and Israel, as it prepares to dominate the market and become a necessary component on all commercial BVLOS operations.
Elsight develops hybrid solutions that deliver extremely reliable, high bandwidth, real-time connectivity even in the most challenging areas. Elsight’s proprietary bonding technology incorporates both software and hardware elements. Halo, Elsight’ newest product offering, is a connectivity platform dedicated to support commercial beyond visual line of sight missions for unmanned platforms and solves many other broadband challenges, stationary or on-the-move, through its unique flexible networking capabilities.
For more infomation visit elsight.com