Sumitomo Corporation of Americas Leads Series A Funding Round for OneSky Systems Inc.; Acquires Stake in Unmanned Aerial Systems Analytics Provider
NEW YORK, April 20, 2020 /PRNewswire/ -- Sumitomo Corporation ("SC"), through Sumitomo Corporation of Americas ("SCOA"), announced today its stake in OneSky Systems, Inc. ("OneSky" or "the company"), the leading developer of Unmanned Traffic Management (UTM) and Urban Air Mobility (UAM) platforms, designed to enhance mission planning with advanced safety-of-flight analysis. This investment aligns with our focus on air mobility in establishing innovative new transport services and will support OneSky's software development and scale their marketing capabilities.
OneSky Systems, Inc. is an affiliate of Analytical Graphics, Inc. ("AGI"). OneSky develops unmanned aerial traffic management systems and analytics, which establish safe flight paths to prevent collisions between unmanned aerial vehicles. This kind of traffic management requires more advanced technical capabilities than traditional aircraft control systems. Through their intellectual property agreement, OneSky has exclusive access to AGI's core technology of precise object position determination. This has allowed them to apply that technology and put powerful predictive capabilities into the hands of pilots, operators and systems integrators.
"We are very pleased to become part-owner of OneSky Systems," said Kevin Hyuga, General Manager of Construction & Transportation Systems at Sumitomo Corporation of Americas. "Sumitomo has a longstanding history in transportation, including the aerospace market. We see significant potential in growing and scaling OneSky's capabilities so that it can support the air mobility needs of the future."
Air mobility is regarded as the next frontier in transportation, utilizing networks of AI-driven, unmanned vehicles. This transformation in mobility is expected to reduce transport times in urban areas and help improve access to remote locations like islands and mountainous areas. It could also be crucial during emergency response situations – including the current situation of the COVID-19 virus - with the use of drone technology. The technology developed by companies like OneSky will be imperative to the success and safety of these future mobility systems.
This isn't Sumitomo's first foray into the air mobility space. In January of 2020, the company concluded an air mobility business partnership with Bell Helicopter Textron Inc., a major U.S. helicopter manufacturer, and Japan Airlines. Following this project, Sumitomo is now considering the provision of services employing unmanned logistics drones and air taxis developed by Bell with an eye towards commercialization by the mid-2020's.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, Sumitomo Corporation has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide.
The company's core business groups include Metal Products, Transportation & Construction Systems, Infrastructure, Media & Digital, Living Related and Real Estate, and Mineral Resources, Energy, Chemical & Electronics. For more information visit www.sumitomocorp.com
About OneSky Systems, Inc.
OneSky provides industry-leading analytics for aerospace systems, particularly within the commercial unmanned aerial systems (UAS) market. Designed to enhance mission planning with advanced safety-of-flight analysis, OneSky leverages 28+ years of software modeling and simulation to put powerful predictive capabilities into the hands of pilots, operators, and systems integrators. For more information visit https://onesky.xyz/
SOURCE Sumitomo Corporation of Americas
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