TempoCap leads $12.1m Funding Round for Dedrone

SAN FRANCISCO and LONDON, Oct. 1, 2020 /PRNewswire/ -- Dedrone, the global market and technology leader in airspace security, which protects organizations from malicious drones announced today that it has secured $12.1m (£9.1m) in funding. 

Based in San Francisco, Dedrone was founded in 2014 and is backed by investors including Felicis Ventures, Menlo Ventures, and John Chambers, Chairman Emeritus of Cisco Systems and founder of JC2 Ventures.

The funding round is led by the leading European technology investment company, TempoCap, which has a proven track record of investing in security technology and fast growing software businesses. Backing ambitious founders, TempoCap supports sizeable businesses addressing real world challenges with a clear technological differentiation.

Following this successful investment, Dedrone will accelerate development of its best-in-class platform providing early warning, classification of, and mitigation against drone threats. The Dedrone platform is complete counter-drone solution designed to detect, and classify drone-based threats. The Dedrone system detects approaching drones with the help of radio sensors as well as special camera and radar systems, whose data are processed by the intelligent DroneTracker software.

Commenting on the investment, Aaditya Devarakonda, CEO of Dedrone, said, "Drone technology has advanced tremendously in the past few years, and today drones significantly aid in surveying, disaster relief, delivery, and myriad business and consumer applications. However, in the wrong hands, a drone's accessibility, capabilities, and ease of flying make it especially suitable for hacking, surveillance, and terrorism."

"Quite simply, this is cutting edge-technology delivering a massive difference to governments, businesses and critical national infrastructure," said Olav Ostin, Managing Partner, TempoCap. "It's a market that is growing rapidly, and we're investing in the best company in this sector."

Philipp Meindl, Investment Partner at TempoCap added: "The impact of illicit drone usage has been felt by thousands of people and organizations and unfortunately, it's a threat that's only going to get more prevalent as drones become more widespread. We're excited to address this challenge head-on."

About Dedrone
Dedrone is the market leader in airspace security. Dedrone's counter-drone system is trusted by critical infrastructure, government operations, military assets, correctional facilities, and enterprises to protect against unauthorized small drones. With flexibility to host in the cloud, or on premise, Dedrone's SaaS technology combines machine-learning software with best-in-class sensors and effectors, to provide early warning, classification of, and mitigation against all drone threats. Dedrone systems are deployed by hundreds of customers globally. Established in 2014, Dedrone is headquartered in San Francisco, with operations in the Washington, D.C.-area, Columbus, Ohio, London and Germany. For more information about Dedrone and to reach our counter-drone subject matter experts, visit dedrone.com and follow @Dedrone on Twitter and LinkedIn.

About TempoCap
TempoCap is a leading European technology investor in fast-growing sizeable businesses. TempoCap offers primary capital for companies to accelerate growth as well as attractive and flexible liquidity solutions for sellers (entrepreneurs, venture capitalists, corporates). In addition to single asset investments, TempoCap advised funds acquire secondary direct investments by purchasing entire portfolios of investments from various type of investors including venture capital funds, corporates, banks or prominent business angels. For more information please visit, https://www.tempocap.com/.

SOURCE Dedrone