Category Archives: Business News

NTT DOCOMO and Space Compass Partner with Airbus on HAPS to Invest USD$100M in AALTO

A consortium of Japanese businesses led by NTT DOCOMO, Inc.  and Space Compass Corporation, together with Mizuho Bank Limited and the Development Bank of Japan Inc., has committed to invest USD$100m in AALTO HAPS Limited, which manufactures and operates the stratospheric, solar-powered Zephyr High Altitude Platform Station (HAPS). The investment will be made through the Japanese Consortium’s investment vehicle, HAPS JAPAN Corporation. Continue reading

GA-ASI Awarded AI Smart Sensor Contract

General Atomics Aeronautical Systems, Inc. was awarded a $94,808,020 cost-plus-fixed-fee contract for research, development, test, and evaluation of Autonomy and Artificial Intelligence for the Smart Sensor Intelligence, Surveillance, and Reconnaissance (ISR) prototype. The work was awarded by the Army Contracting Command on April 30, 2024, with an estimated completion date of March 31, 2026. Continue reading

Drone-As-First-Responder Firm Aerodome Raises $21.5M in Series A Funding

Aerodome, a supplier of Drone-As-First-Responder (DFR) technology, announced that the company has raised $21.5 million in Series A funding to continue building DFR solutions and growing its engineering and go-to-market teams. CRV led the round with participation from Andreessen Horowitz (a16z)Karman Ventures, Immad Akhund (CEO, Mercury), and Ford Street Ventures. The company raised its seed round in October 2023, led by a16z and 2048 Ventures, bringing its total funding to $28 million. Continue reading

Drone Delivery Canada and Volatus Aerospace Announce Merger

Drone Delivery Canada Corp. and Volatus Aerospace Corp. have announced that they have entered into a business combination agreement  to combine the companies in a merger of equals transaction, with the combined company to continue under the name ‘Volatus Aerospace Corp.‘ and, subject to approval of the TSX Venture Exchange, continue trading under the ticker “FLT”. Continue reading