Slingshot Aerospace Raises $8 Million in Series A Funds Led by ATX Ventures
The company has raised a total of $17.1 million to date.
Slingshot Aerospace, a leader in situational awareness technology, announced that it has raised $8 million in Series A funds for a total raised of $17.1 million to date. The round is led by ATX Venture Partners, and includes additional investments from Revolution’s Rise of the Rest Seed Fund, Techstars Ventures, and Okapi Venture Capital. Angel investors that participated in the round include former CEO of the United States Geospatial Intelligence Foundation and current Principal Consultant for Plum Run, LLC Keith Masback; Gregory Mead and Marie-Alicia Chang, co-founders of Semetric; and Glenn Degenaars, who was recognized as a Top Wealth Advisor for 2020 by Forbes.
“Slingshot Aerospace is providing government and commercial customers a high-impact return on investment through its innovative situational intelligence technologies,” said Chris Shonk, Co-Founder and Partner, ATX Venture Partners. “There is no doubt Slingshot Aerospace will continue to experience high growth, as the company has only scratched the surface in terms of customer acquisition and industry use across verticals.”
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Slingshot Aerospace is creating situational awareness technologies that provide customizable solutions to quickly navigate, analyze, and leverage data from earth and space. The funds raised will be used to further develop Slingshot Aerospace products for commercialization, enable the company to expand into new industry verticals outside of aerospace and defense, and grow the team.
“Our mission is to invest in startups that are upending traditional industries with innovative technologies outside of Silicon Valley,” said David Hall, Managing Partner of Revolution’s Rise of the Rest Seed Fund. “Slingshot Aerospace’s innovation speaks for itself, as the company has already brought in significant revenue while building its IP. We look forward to working with Slingshot Aerospace as it continues to scale operations and product development.”
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Satellites, airplanes, drones, and ground-based sensors generate petabytes of data every day, but it’s impossible to quickly analyze and use the information in a meaningful way. Slingshot Aerospace is creating tools that unlock the power of data intelligence to save lives, time and money.
“The funds we raise enable us to continue developing our innovative technology, bringing us one step closer to creating a safer and more sustainable world,” said David Godwin, Co-Founder and CEO, Slingshot Aerospace. “By providing users with the right data, at the right time, all in one place, we are giving users the tools they need to make faster, better informed decisions so they can protect and improve our way of life.”