AirMap Gets More Backing, Adds New Execs to Board

Posted by Betsy Lillian on April 11, 2016 No Comments
Categories : Business Operations

AirMap, a provider of airspace information and services for unmanned aircraft systems (UAS), has raised $15 million in Series A financing, led by General Catalyst Partners.

The company recently announced its collaboration with more than 50 U.S. airports through its Digital Notice and Awareness System, which provides tools for safe drone flights near airports.

“People will soon be benefiting from drone-enabled services in their everyday lives, often without even realizing it,” explains Hemant Taneja of General Catalyst Partners. “AirMap is building the trusted infrastructure to support the mainstream drone use cases that we will all soon take for granted.”

Taneja has also joined AirMap’s board of directors.

Lux Capital, which led AirMap’s seed financing last year, has also made a significant additional investment in this Series A round. Other investment firms participating include Social Capital, TenOneTen Ventures, Bullpen Capital and the Pritzker Group.

In addition, three executives have joined AirMap’s board of advisors: Bill Ayer, former chairman and CEO of Alaska Airlines; Richard Deakin, former CEO of National Air Traffic Services (the air navigation service provider for the U.K.); and Graham Richard, former mayor of Ft. Wayne, Ind., and current CEO of Advanced Energy Economy.

“Our commitment is to help make drones a part of everyday life,” says Ben Marcus, AirMap’s CEO. “We fundamentally believe in the transformational impact of this technology. Thousands of innovators are developing amazing applications for drones, ranging from package delivery and industrial inspection to precision agriculture and public safety. Building a safe and efficient operating environment for drones helps to take these applications from experimental to mainstream.”

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