Aeronyde Receives $4.7M Seed Funding

Aeronyde, the aerial systems company enabling safe autonomous urban flight, today announced $4.7 million in seed financing to develop its end-to-end infrastructure for self-flying vehicles. Aeronyde is the first company to integrate artificial intelligence (AI) and augmented reality (AR) into a full-service system for the safe and secure operation of commercial drones. The investment was led by Korean electronics manufacturing giant JASTech Co. Ltd, best known as the world leader in flexible OLED/ QLED display. Aeronyde is applying the strategic investment to the development of hardware and systems software for autonomous fleet management (AFM).

A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2d4f84f2-e947-4d86-86ad-6cd431b5f8a2

“In the 21st century, drones will shape global transportation and distribution and redefine the urban landscape, however we’re not there yet,” said Edgar Munoz, CEO of Aeronyde. “Adoption of Unmanned Aerial Vehicles (UAV) platforms depends wholeheartedly on the public’s acceptance of the technology. As an industry, we must ensure public safety is addressed prior to the commercial unmanned aerial system (UAS) industry boom. This is what Aeronyde is working on.”

Through data collection and partnerships with national, state and private stakeholders, Aeronyde aims to deliver a turnkey UAV service for emergency responders, disaster relief, and commercial transportation and logistics in urban areas.

“The market is growing rapidly as more countries are looking at developing UAS regulations. We are excited to invest in Aeronyde, a leader in this revolution, as they innovate UAS technology,” said Jason Chung, Chairman of JASTech. “Aeronyde is helping to build the future of Autonomous Aerial Systems with software and hardware that ensure the responsible management of drones in urban environments.”

Powerful Partnerships:
The Aeronyde team is working with US regulators and international associations to define standards and protocols for the safe implementation of commercial drone technology. Key partnerships include:

IBM Watson: Aeronyde is conducting rigorous testing, working with IBM Watson to run millions of flight simulations, and collecting data on the security of the system.

Leading technology, systems and regulatory partners: Unifly, the Police Foundation, iSENSYS and the Global UTM Association (GUTMA), a consortium of public and private entities working on unmanned traffic management (UTM) technology.

The Aeronyde system:
Aeronyde provides flexible infrastructure for aerial logistics, transportation and data collection including:

Real-time data analysis to contextually apply sequencing, tasking, local environment, and weather.
Machine learning to build situational awareness.
Live flight and testing in Aeronyde research and development centers.
The end-to-end Aeronyde hardware and software system includes:

Autonomous flying vehicles and processors
Airspace and flight path management
Unmanned traffic management (UTM)
User interface and training programs
About Aeronyde:
Aeronyde Corporation is building a fully autonomous, unmanned traffic management system (UTM) to ensure commercial unmanned aerial vehicles (UAVs) – commonly known as drones – can fly in a safe, transparent and secure way in urban areas. Based on Florida’s Space Coast, Aeronyde has strategic partnerships with IBM Watson, iSENSYS, JASTech, Unifly, and other industry innovators to develop an end-to-end system of vehicles and software. Aeronyde is focused on robust safety testing and will license their System-as-a-Service to public and private groups. Aeronyde collaborates with government, local law enforcement, states and cities to customize and deploy end-to-end Autonomous Aerial Systems (AAS) to suit specific uses and needs. Aeronyde is a member of The Global UTM Association (GUTMA). For more information please visit www.aeronyde.com.

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