The round was led by Playground Global, a venture capital firm founded by Andy Rubin, Bruce Leak, Matt Hershenson, and Peter Barrett to partner with companies building hardware and software systems that instrument and augment the physical world.
The company will use the funds to further accelerate the development and commercialization of its avionics system.
Founded in 2015 by Paul Beard, a technology pioneer, uAvionix has introduced “pingRX,” a miniature ADS-B receiver that weighs 5 grams. ADS-B, or “Automatic Dependent Surveillance – Broadcast” is a system used by commercial airliners to help them sense and avoid each other, thereby reducing the risk of airborne collisions.
FinSMEs
28/04/2016