Tuesday, December 12, 2017

Slingshot Aerospace Gets $3.25M

Austin- and Los Angeles-based Slingshot Aerospace said on Tuesday that it has raised $3.25M in its Series Seed round. The lead investor in the round was ATX Seed Ventures, and also included Okapi Venture Capital and Sway Ventures, along with Stage and NoName Ventures. The company develops artificial intelligence software to automatically process a large amount of imagery data. The company's software takes data gathered through satellite, aircrafts, and drones and turns that into information that can be used for decisions. Slingshot said its technology recently was used by BAE Systems and Team Rubicon during Hurricanes Harvey and Irma, to analyze flooding severity as well as to identify the safest possible escape routes and staging areas. A number of Slingshot's founders have a military background from the U.S. Air Force. More information »