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A drone owned by the Ukrainian military in Lviv, Ukraine, May 2, 2024. “Open a newspaper, turn on a TV channel. Look at what’s happening in Ukraine. Look at what’s happening in the Middle East. Drones are part of modern warfare, public safety, homeland security. It changed coverage forever,” Dedrone CEO Aaditya Devarakonda told CNBC. May 6, 2024, the day his startup was acquired by public safety company Axon.
Global Images Ukraine | Global Images Ukraine | Getty Images
public safety technology company axon The company announced Monday that it will acquire drone defense startup Dedrone.
Dedrone serves military, government and commercial customers from airports to stadiums to high-profile events, making it a key player in so-called smart aviation security. Its technology already covers half the U.S. population, 40 cities, 30 airports, 50 stadiums, and 50 correctional facilities. His work spans 36 countries, nine U.S. federal agencies, and more than 35 law enforcement agencies.
Founded in 2014, Dedrone has raised a total of $127 million in venture funding from existing investors, including Axon, who co-led a funding round with a VC firm in July 2022 and became a member of Dedrone’s board of directors. is being provided.
The company was ranked 23rd in last year’s ranking. CNBC Disruptor 50 list.
Terms of the transaction, which is expected to close in the second half of 2024, were not disclosed.
Axon, best known for its Tasers, also offers a cloud-based digital evidence management platform for assets including body cameras, dashcams, and video from Axon body cameras. The company’s customers include commercial enterprises as well as first responders in international, federal, state, and local law enforcement, fire departments, correctional facilities, and the judicial sector.
Axon CEO Rick Smith, who founded the public safety company 30 years ago, said in an exclusive interview with CNBC’s Morgan Brennan that what DeDrone has done in protecting public airspace is a reflection of the company’s mission. He said it was consistent with that. “And we see what’s happening around the world. Drones have great promise, but they also come with great danger. And by joining forces, we can bring scale to DeDrone’s ingenuity and innovation.” “This will allow us to protect more lives in more areas,” Smith said.
Axon has a market valuation of more than $24 billion, and its stock price has risen from a low of $50 in 2019 to more than $300 today. Axon has raised its full-year 2016 earnings outlook. latest earningswhich was announced at the same time as the acquisition announcement Monday afternoon, reported first-quarter sales growth of 34% to nearly $2 billion.
Aaditya Devarakonda, a former technology investment banker and advisor to Dedrone, has served as Dedrone’s CEO since 2020. He pointed out that the number of bases is expanding. It fits well into Axon’s connected device and software ecosystem.
“We have 800 different locations.” Devarakonda told Brennan: “We are eliminating malicious drones… Just open the newspaper and turn on the TV channel. Look at what’s happening in Ukraine. Look at what’s happening in the Middle East. Drones have forever changed modern warfare, public safety, and homeland security. …You know, every airport needs that, every prison needs that. ”
The Dedrone system is in operation in Ukraine.
Dedrone’s flagship product, Dedrone Tracker, provided security for the 2022 FIFA World Cup in Qatar, protecting 900 square kilometers of airspace and 44 key locations. We have also collaborated with F1 Grand Prix. The tracker can detect nearly 200 drone models from 65 manufacturers, trigger alarms, and analyze data from incidents to create forensic reports.
The company introduced first responder drones that have been field-tested by police departments and debuted DedroneTactical, a plug-and-play portable setup radar with AI-powered detection equipment. Chief among the company’s new products is his DedroneCitywide, which functions like an air traffic control system for drones and was recognized by Time magazine as the best invention of 2023.
Last year, DeDrone technology was selected by the Department of Homeland Security as the only counter-drone approved for use in counter-terrorism applications.
Smith estimates that Dedrone will increase Axon’s total available market by more than 20%. In a world where drones, which consumers can now essentially buy at Best Buy or online, can be transformed from consumer toys into “highly dangerous objects” with a little repurposing and planning, dead drones pose a danger to society. Smith said. Public safety departments will need help understanding both the risks and the “huge growth area” of owning their own drone fleets.
Currently, deploying drones to a scene long before police cars can weave through traffic and arrive at the scene means officers are on rooftops. “People stare into the distance trying to see drones. We know that a superhuman array of sensors can track drones and keep the airspace much safer than a human standing on a rooftop. ” said Smith.