PDW Holdings, Inc., an American drone company that designs, engineers and manufacturers unmanned systems and solutions for defense and public safety – including its flagship C100 platform and Attritable Multirotor – announced that it has closed its Series B financing.
PDW’s latest financing was led by Ondas and included participation from Hood River, Cedar Pine, Hanwha Asset Management’s venture fund, Booz Allen Hamilton, as well as existing and new investors, bringing the total amount funded to over $110M. The net proceeds from the Series B financing will be used to fund future growth initiatives and ramp production of PDW’s multi-mission drones, among other strategic programs.
PDW develops and mass manufactures combat robotic systems and software that deliver advanced surveillance, electronic warfare and strike capabilities for the U.S. and its allies. The company supports contracts with every branch of the U.S. Military as well as federal, local and international public safety entities.
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“PDW designs and manufactures at the scale and speed required to meet the demands of today’s rapidly evolving battlefield,” said PDW CEO James Slider. “Mission-ready small UAS technology is a national security imperative. Our adversaries have proven what’s possible when drone technology is engineered, manufactured and deployed at scale. The United States cannot afford to fall behind or rely on foreign supply chains. We are investing in expanded production capacity and a U.S.-anchored supply chain to ensure resilient, domestically built systems delivered at the highest level.”
“PDW isn’t just building better drones, but a domestic production base to meet our nation’s growing demand,” said Eric Brock, Ondas CEO & Chairman. “Their proven technology in real-world environments, growing manufacturing capabilities, and unwavering commitment to mission performance are raising the bar for industry expectations and we’re proud to work alongside them.”
Emerging from the high-octane world of the Drone Racing League, PDW was launched in Huntsville by elite engineers, drone pilots, and U.S. Special Operations veterans. The company delivers an integrated portfolio of deployable unmanned systems and software built to expand mission capability and maintain performance in contested environments, including the C100 quadcopter, the Attritable Munition strike drone, SIM flight simulator, CORE mission planning software, Multi-Mission Payloads (MMP), Range Extension Kit, and an anti-jam radio.
SOURCE: PRNewswire
