Prioria plans to take advantage of UAS commercial and military markets
By RBR Staff
June 25, 2012
Prioria Robotics, a developer of small unmanned aerial systems, announced today that it has completed the final tranche of a $ 5.5 million Series C Preferred round of funding. Athenian Venture Partners, a venture capital firm specializing in investments in information technology and healthcare companies, joined a financing round together with Advantage Capital Partners, the lead investor, and existing investor Florida Gulfshore Capital. Prioria Robotics will use the new financing to advance the growth of its unmanned aerial system (UAS) platforms for military and civilian applications.
The UAS market is expected to grow from $ 5.9 billion in 2011 to $ 10.2 billion by 2016, according to Teal Group. Prioria Robotics can satisfy the needs…
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