$3.7 Million Brings 4.1% Shareholding
DroneShield Ltd has received a binding commitment for a $3.7 million investment in the company from Epirus, Inc, the company announced on 16 November. This will result in an approx. 4.1% shareholding.
Epirus is a high-growth US technology company developing software-defined directed energy systems that support counter-electronics effects and power management solutions to optimise power efficiency in defence and commercial applications. In addition to general working capital, DroneShield intends to apply the funds to scaling up engineering and operations to support current momentum and to increase inventory and long lead items to fulfil anticipated orders. The company has recently scored several successes for its C-UAS solutions, including awards and recommendations in the US, Europe and Australia.
“There are significant complementary areas between our companies, including combining DroneShield’s drone detection and soft defeat systems with Epirus’ hard defeat solutions,” explained DroneShield CEO, Oleg Vornik. “Strengthening our partner ecosystem accelerates opportunities to field innovative solutions to areas with the most pressing needs,” added Ken Bedingfield, CEO of Epirus.
