SAN CARLOS, Calif., Oct. 15, 2024 /PRNewswire/ -- Beacon AI, a Silicon Valley-based aviation intelligence startup, announced it raised $15 million in Series A funding, led by Costanoa Ventures, with significant participation from Scout Ventures, joining numerous new and existing investors including Sam Altman, and JetBlue Ventures - raising the total venture funding to $20M.
Beacon is on a mission to put AI assistance in every professional flight deck to improve flight safety and efficiency for defense and commercial operators. Beacon is focused primarily on aircraft represented in the commercial market and their defense twins. The adaptable platform presents a `dual-use` opportunity by being able to serve both markets on similar aircraft. The Series A investment will allow Beacon to expand its team, deliver on existing DOD and commercial engagements, and accelerate the deployment of its flagship products: Murdock, an AI-powered pilot assistant akin to R2-D2 for pilots, and Lighthouse, its data platform and flight management system.
"From our start, we've had the goal of augmenting pilots with advanced technology that helps them perform their jobs more efficiently and safely," said Matt Cox, CEO of Beacon AI. "Everyone in aviation is under pressure to improve safety, and planes' flight decks and pilots remain underserved. We are building something I wish I had in my decade as a naval aviator and 20 years as a pilot."
"There is no better team to bring AI into the flight deck for commercial and military pilots," said Greg Sands, founder and Managing Partner of Costanoa Ventures. "They have already proven themselves in the most high-stakes cockpits in the world, which is why we're excited to see their progress with commercial pilots."
Beacon AI has gained significant traction with ten Department of Defense (DOD) contracts and agreements and is seeing rapidly growing commercial interest. The funding will support the company's expansion to meet high demand and deploy its first product to customers. While slots for 2024 are currently full, the company is opening beta sign-ups for 2025.
"When we first met Beacon AI, what stood out the most was the team and how laser-focused they are on building for their customer. Being led by a team of subject matter experts with countless flight hours in the cockpit allows for an unparalleled understanding of this dual-use technology, and their approach resonated with us. We are proud to be backing a top-tier entrepreneur, Matt Cox, and supporting the entire Beacon AI Team," said Brad Harrison, founder and Managing Partner of Scout Ventures.
Beacon AI is currently hiring across all departments as it scales to bring its vision of safer, more efficient flight to the world.
About Beacon AI:
Beacon AI is a California-based aviation software technology company specializing in developing advanced AI systems to augment commercial and defense pilots. The company's mission is to enhance the future of flight by making flight operations safer and more efficient. Beacon's innovative solutions address the complex challenges faced by the aviation sector, backed by leading investors such as Costanoa Ventures, Scout Ventures, Sam Altman through Apollo Projects and Hydrazine Capital, and JetBlue Ventures, and guided by aviation industry advisors including Hon. Robert Sumwalt (former Chairman of the NTSB) and Ali Bahrami (former Associate Administrator of the FAA).
For more information, please visit https://beaconai.co/ contact [email protected], or follow us on LinkedIn.
About Costanoa Ventures:
Founded in 2012, Costanoa Ventures partners with builders as early as company formation, with a focus on B2B in applied AI, data & developer infrastructure, security, defense, and fintech. Costanoa is a long-term, boutique partner to entrepreneurs from the earliest stages of company building with expertise from its BuilderOps team. For more information, please visit www.costanoa.vc.
SOURCE Beacon AI Inc.
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