SpearUAV, an Israeli company which develops autonomous, AI-based technology for encapsulated SWARM-based UASs, announced last week the completion of a $17 million funding round. The round was led by Israel’s UVision Air, which specializes in aerial loitering munition systems, and a number of other investors. Air UVision stated that following its investment in SpearUAV, it would become a minority shareholder in the company.
According to SpearUAV, the current round reflects the company's expansion in the international defense and homeland defense markets and the provision of a wide range of solutions through unmanned aerial vehicles for armies and law enforcement agencies around the world.
UVision says that the two companies will work to share their technological knowledge: UVision with its proven knowledge and experience in loitering munition systems, and Spear with its expertise in AI based tactical drones for ISTAR missions. The synergy between the companies will make it possible to offer a comprehensive solution for varying operational needs from the micro-tactical forces and brigade level, to the division level.
"This investment in Spear comes as a direct continuation of the company's expansion in the international defense market,” says Major General (Ret.) Avi Mizrachi, CEO of UVision. “Just recently, UVision was selected by the U.S. Marines to provide its advanced loitering munition system, Hero-120, as part of a multi-year installation for all armored vehicles.
“Spear offers a unique ISTAR solution that can be easily deployed by any soldier in the field. Together, we are creating a broad-spectrum solution, tailored to any operational need of our customers - at sea, in the air, and on land."
"We are pleased and proud of our strong partnership with UVision,” says Colonel (Ret.) Gadi Kuperman, Founder & CEO of SpearUAV. “UVision has recognized the enormous potential of Spear’s robust, intuitive, and autonomous solutions for immediate, aerial superiority, in both the defense and HLS markets. While Spear continues to thrive and grow independently, we are confident that this collaboration will bring with it a breakthrough into new markets for the two companies.”