DETROIT—Airspace Link Inc., a provider of drone safety software and data solutions, announced the completion of a $23 million Series B capital raise. Leading the round was Avanta Ventures, the Mountain View, Calif.-based venture fund, with new investment from Hong Kong-based Morningside and Newport Beach, Calif.-based Caprock, and follow-on investment from Altos Ventures, Indicator Ventures, 2048 Ventures, Detroit Venture Partners, and Thales Group.
Founded in 2018 in Detroit, Airspace Link has seen rapid growth over the past few years, as it drives the industry forward in safely integrating drones into communities at scale. The company has raised a total investment of $37 million, expanding its impact and value for partners and customers exponentially in the past year alone. The team has put that capital to work, rapidly expanding products and services while growing from 17 employees to near 50.
“Drones are an exciting new form of mobility, with advanced hardware now available at scale,” said Michael Healander, co-founder and CEO. “Airspace Link provides the safety infrastructure for drones, focusing on the precise data, software, and analytics required to support scalable operations. Airspace Link’s products and services, through the AirHub® Platform, are utilized in all aspects of the industry, whether for informing safety cases, compliance, policy decisions, risk management, or insurance modeling.”
As the venture capital arm of CSAA Insurance Group, Avanta Ventures is aligned with one of the top personal lines of property and casualty insurance underwriters in the United States.
“Our investment in Airspace Link aligns with our deep focus on mobility innovation, safety, and risk management,” said David Li, principal at Avanta Ventures. “We look forward to working with Airspace Link to accelerate aerial mobility in the safest manner for consumers and communities at scale.”
With this funding, Airspace Link will continue to invest in and expand on initiatives to support the safe scaling of drone usage through:
- Delivering safe, performant, and neutral Supplemental Data Service Provider (SDSP) and UAS Service Supplier capabilities to enable the acceleration of UAS Traffic Management ecosystems.
- Partnering with and supporting drone manufacturers, operators, software, and service providers to jointly execute on our shared vision.
- Strategically expand services globally, with partners like Thales Groupand Esri, to support our current customers’ expansion and new market development.
- Expanding Airspace Link’s Federal Aviation Administration public-private partnership, through programs such as LAANC USS, BEYOND, Remote ID,and more initiatives in the United States.
- Continuing to partner with State & Local Government to drive investment supporting drone infrastructure, enabling them to unlock economic, environmental, and social equity objectives delivered through advanced aerial mobility.
“A great validator of go-to-market strategy has been the excitement and buy-in we’ve seen from investors and partners on our financial business model and partner-centric approach,” said Bill Johnson, CFO of Airspace Link. “The confidence of investors, as shown by this capital raise, will enable us to meet the rapidly growing demand we’re seeing in the market, both in the U.S. and globally.”