MatrixSpace, a leading AI collaborative sensing solutions provider, announced it has recently secured $10 million in Series A funding. This successful funding round marks a significant milestone for the company, bringing its total funding to $20 million since its inception in 2020. The infusion of capital will play a vital role in propelling MatrixSpace forward, empowering the company to expedite its technological advancements, expand customer adoption, and drive remarkable revenue growth. With this substantial financial backing, MatrixSpace is poised to solidify its position as a trailblazer in AI collaborative sensing.
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. Intel Capital also participated, as well as a prominent set of technology executives.
MatrixSpace is at the forefront of revolutionizing radar technology through its cutting-edge, compact system powered by artificial intelligence. This remarkable system digitizes the outdoor environment, enabling an unprecedented extension of human senses over vast distances. The advancements offered by MatrixSpace empower customers across various sectors, including critical infrastructure security, general aviation, transportation, defense, and robotics. Notably, the introduction of the MatrixSpace Radar showcases the company’s commitment to democratizing AI sensing by providing affordable and advanced solutions for longer-distance applications in markets that were previously unable to access such groundbreaking technology.
Rob Broggi, Partner at Raptor Group, will join the MatrixSpace Board of Directors. 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.
Quote from Rob Broggi, Partner at The Raptor Group
“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.”
Quote from David Johnson, Managing Director, Intel Capital
“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.”
Quote from Gregory Waters, Co-Founder & CEO of MatrixSpace
“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.”
About MatrixSpace
MatrixSpace is re-imagining radar. We are addressing the next generation of AI-enabled sensing so that objects can be identified and data collected in real-time – no cloud access required. We’re building the smallest radar system to provide new levels of integrated outdoor surveillance in 4D (the size, location, and movement of objects in time) that makes it accessible to a broad range of public and private enterprises. MatrixSpace was a winner of the 2023 AUVSI XCELLENCE Awards for XCELLENCE in Technology – Enabling Components & Peripherals. www.matrixspace.com.
Disclaimer: Matrix Space is working through authorization as required by Federal Communications Commission rules. This device will be available for sale when FCC authorization is obtained.
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