Tuesday, December 12, 2017

Slingshot Aerospace Raises $3.25M

Los Angeles- and Austin, Texas-based Slingshot Aerospace has raised $3.25M in its Series Seed round, according to lead investor ATX Seed Ventures. The round also included investments from Okapi Venture Capital and Sway Ventures, along with Stage and NoName Ventures. The company, which was part of the recent Techstars Los Angeles class, uses artificial intelligence software to process imagery data. The company's software takes data gathered through satellite, aircrafts, and drones and turns that into information that can be used for decisions. Slingshot said its technology recently was used by BAE Systems and Team Rubicon during Hurricanes Harvey and Irma, to analyze flooding severity as well as to identify the safest possible escape routes and staging areas. A number of Slingshot's founders have a military background from the U.S. Air Force, which has major satellite analysis operations in El Segundo.