Startup SkySafe Raises $11.5 Million in Series A FundingTuesday, July 25, 2017
San Diego-based SkySafe, which makes technology to stop drones while in flight, said on July 20 that it received $11.5 million in series A funding, led by Andreessen Horowitz.
In addition, the company said it received a $1.5 million contract from the Defense Department’s Silicon Valley office, the Defense Innovation Unit Experimental (also known as DIUx). Under the deal, SkySafe plans to deliver its drone-stopping technology to Navy SEAL units. The business anticipates putting its technology in the field by 2018.
“The use of weaponized drones by terrorist organizations has risen dramatically, but there is a lack of effective systems in place for soldiers to deploy in the field,” CEO Grant Jordan said in a blog post. SkySafe is working to fill that void.
Andreessen Horowitz led a $3 million seed round in 2016. Along with the latest funding, Andreessen Horowitz general partner Lars Dalgaard will join the SkySafe board.
Eleven entities participated in SkySafe’s seed round, and eight of those investors took part in the series A round, according to Crunchbase.
The business hopes to serve public safety and commercial customers in addition to the military.