SpearUAV has announced a $17 million investment in a Series B funding round. The Tel Aviv-based company is a developer of an autonomous, AI-based technology for encapsulated SWARM-based UAS (unmanned aircraft system).
The funding round was led by UVision Air, which is a market leader in loitering munitions systems. It also included participation from several other investors.
Expansion in International Defense Market
The latest investment comes as the company continues its expansion in the international defense and homeland security (HLS) markets, as well as in providing solutions through unmanned aerial tools for armies and law enforcement agencies across the globe.
Spear has developed state-of-the-art drone technology for intelligence-gathering and precision-attack missions. The technology enables immediate launch from a capsule, and it can be adjusted for air, land, and sea missions.
Colonel (Ret.) Gadi Kuperman is founder and CEO of SpearUAV.
“The company’s current fundraising success is another step in establishing SpearUAV as a leader in breakthrough technology in the world of unmanned air vehicles, giving soldiers new aerial dimension and full air autonomy in the field,” Kuperman says. “Together with UVision, which led this round of funding, SpearUAV will be able to provide diverse solutions for a wide range of needs compatible with the modern battlefield, including drone swarm array operation, ISTAR operations, precise attack capabilities, and more.”
Major General (Ret.) Avi Mizrachi is CEO of UVision.
“Spear’s systems have been operationally proven and we believe that they have enormous potential in the international defense market,” Mizrachi says. “The purpose of this investment is to generate a strong synergy between the two companies. UVision expands its portfolio offering a comprehensive solution for varying operational needs from the micro-tactical forces and brigade level, to the division level. The companies are already collaborating on technological knowledge to develop new systems.”
Spear and UVision Details
Based in Israel, Spear has been operating as a tech company since 2017, with a focus on the development and manufacturing of unmanned air systems for defense and HLS. The company is a single source supplier for various Israeli MOD programs, and it provides AI-based aerial systems to military clients, organizations, and governments throughout the globe.
The Spear team consists of a wide-range of individuals with both civilian and military backgrounds. Some of the team members’ areas of expertise include drone development, AI and AR, aerospace, military explosives, and swarm operations.
UVision is focused on the design and manufacturing of combat loitering munition systems. The company provides military organizations throughout the world with attack capabilities through its cost-effective systems. The loitering munitions are designed with unique flight qualities, advanced airborne guidance, and sophisticated navigation algorithms.