Prioria Robotics, Inc. announced that it has received $5.5 million in funding to advance the growth of its unmanned aircraft system platforms for military and civilian applications.
Investors included Athenian Venture Partners , Advantage Capital Partners and Florida Gulfshore Capital .
Gainesville-based Prioria Robotics focuses on unmanned systems designed to perform sophisticated aerial security or surveillance tasks. It currently offers the Maveric Unmanned Aircraft System and the Merlin embedded processing platform as well as engineering services to design custom offerings around both products.
According to Teal Group, the unmanned aerial system market is expected to grow from $5.9 billion in 2011 to $10.2 billion by 2016.
Karl Elderkin of Athenian Venture Partners said Prioria is in the right place to serve this new market.
“The company’s leading technology, coupled with its impressive management team and proven quality of execution, have set it up to thrive in this growing area of unmanned flight,” Elderkin said in a news release.
Source: Jacksonville Business Journal