XTEND, an intuitive human/AI-operated drone system empowering operators to undertake complex missions more safely, has today announced it has raised $20m in equity financing as part of its Series A fundraising round. This round was led by Chartered Group with participation of early investors including: lool ventures, I3 Equity Partners, TPY Ventures, TAU Ventures, Surround Ventures, Homeward Ventures, NFX and Top Ventures. The funding will enable XTEND to accommodate aggressive demand, accelerate its market traction with existing and new customers and expedite the development of its new generation Drone Operating System for autonomy and multi-drone applications in the defense and commercial spaces.
XTEND was founded in late 2018 by two-time Emmy award-winning entrepreneurs, Aviv and Matteo Shapira, who previously sold Replay Technologies to Intel, Rubi Liani, Founder of the Israeli Drone Racing League, and Defense and UAV Specialist Adir Tubi. Looking for the next market disruption, the team developed a unique and patented Drone Operating System (called XOS) and platforms, that optimize and fuse both human judgement and edge-based Artificial Intelligence to enable next level man-machine teaming. Controlled via a unique Virtual Reality user interface, XOS leverages state-of-the-art Augmented Reality & Artificial Intelligence technology and enables operators to immerse themselves in remote, high-risk, GPS-denied locations, allowing maximal effectiveness at a minimal risk.
“This funding round enables XTEND to scale out our truly unique and innovative operating system, which allows anyone to perform extremely precise interactive missions in dynamic complex environments with zero learning time – making the idea of Human-Centric Telepresence a reality. This is another great step towards removing the ‘human-risk-factor’ from dangerous warfare and tactical combat & Homeland Security scenarios” said XTEND’s co-founder and CEO Aviv Shapira.
XTEND’s advanced Drone Operating System allows any operator to expertly control a drone at extreme indoor and outdoor scenarios, including intercepting a rogue drone at 150Km/h in an airport, enabling firefighters to find survivors inside a collapsed building and replacing bomb squads’ dealings with Improvised Explosive Devices. The significant reduction in time and cost enables increased efficiency and proficiency, whilst saving money and, most crucially, lives. As the technology simplifies the way users remotely control and experience robotic systems, the ease of use also makes XTEND’s solution available to every operator, increasing the potential commercial deployment, the solutions’ total addressable market and the operational impact achieved.
“XTEND developed the trifecta for drones: the most advanced Drone Operating System, the most intuitive On-Screen Display, and drones that can fly both indoors and outdoors. Having observed XTEND’s remarkable achievements thus far, we truly believe in its potential of becoming the world leader in tactical telepresence” said Eyal Agmoni, Founder and Chairman of Chartered Group.
The U.S. Department of Defense Special Forces and Israel’s Ministry of Defense tier-1 units have chosen XTEND for multiple multi-million-dollar programs to develop and deliver systems for operational evaluation. With over 300 systems deployed worldwide, XTEND systems save lives on a daily basis by allowing users to perform complex tasks without physical presence.
XTEND inc. is a venture-backed company with a unique mix of people and capabilities – combining operational experience and technical ingenuity to create cutting edge solutions that can be used by every soldier or officer. The company is headquartered in Fort Walton, FL with a Washington DC sales office and R&D center in Israel. XTEND’s systems are deployed to help warfighters win the mission and get home safely.