MatrixSpace – a leader in AI collaborative sensing solutions – recently announced $10 million raised in Series A funding. This funding round brings the company’s total funding to $20 million since its first year of operation in 2020 and will enable it to accelerate technology advancements, customer adoption, and revenue growth.
The funding round was led by the Raptor Group, a highly successful venture and private investment fund with a strong track record in technology, enterprise, and sports companies. And Intel Capital also participated, as well as a prominent set of technology executives.
MatrixSpace is known for revolutionizing radar technology with its compact AI-powered system that digitizes the outdoors, dramatically extending the range of human senses over long distances to a degree previously unavailable. And customer applications include critical infrastructure security, general aviation and transportation, multiple defense applications, and robotics. Plus the recently announced MatrixSpace Radar is an example of how the company is bringing AI sensing to markets that have previously been unable to afford such advanced solutions for longer-distance applications.
Rob Broggi, Partner at Raptor Group, will join the MatrixSpace Board of Directors. And he is a seasoned advisor and operating executive with over 30 years of experience advising and accelerating high-growth companies in the technology and business services sectors.
KEY QUOTES:
“The MatrixSpace vision in AI Collaborative Sensing will completely change the way that people extend their senses in outdoor environments, creating safer and far more productive spaces on the ground or in the air. This helps human safety in any corner of the world and will dramatically change business models across large industries. We’re happy to help them accelerate into their growth stage.”
— Rob Broggi, Partner at The Raptor Group
“Greg Waters and his team have outstanding track records of innovation and success in radio frequency technology, intelligent systems and AI. Starting with a clean sheet of paper, they are pioneering AI sensing solutions that integrate MatrixSpace’s very rich radar data across multiple vantage points to see objects and patterns that remain elusive to image sensors alone, all while remaining cost-effective. We’re thrilled to support the growth of MatrixSpace as they change the way we see the world.”
— David Johnson, Managing Director, Intel Capital
“We’re honored to be moving forward with such a highly capable team of investors, new board member, and advisors. After a meaningfully oversubscribed round, the MatrixSpace team can accelerate delivery of many compelling new solutions to customers.”
— Gregory Waters, Co-Founder & CEO of MatrixSpace
