- SPAI announced the closing of a $14 million private placement investment with strategic investors like Ondas Holdings (NASDAQ: ONDS).
- The funding from the investment is going towards the development and integration of the company’s AI-powered computer vision and threat detection technology.
- Safe Pro continues to support the U.S. military by collaborating with drone suppliers to outfit drones with the company’s technology.
Safe Pro Group (NASDAQ: SPAI), a leading provider of advanced AI-powered defense and security solutions, recently announced the closing of a new investment and gave a strategic update about the company (https://ibn.fm/7SA6Y).
In the update, SPAI announced the closure of a $14 million private placement with strategic investors like Ondas Holdings, a leader in the drone industry. This investment follows another private placement that took place recently with Ondas Holdings, Unusual Machines, and other investors back in August.
The funds from these strategic investments are helping the company expand and speed up the development and integration of the company’s Safe Pro Object Threat Detection (“SPOTD”) computer vision software and AI-powered threat detection technology.
After an evaluation of the company’s technologies in real-world operations in Ukraine, Safe Pro expanded its product portfolio with the addition of SPOTD NODE (Navigation, Observation, and Detection Engine). The product was developed in response to the demand for a solution that helps identify ground threats on the modern battlefield, and works by rapidly collecting and locally processing drone-based imagery and making high resolution 2D and 3D high-resolution and interactive maps to help teams identify these threats, without requiring an internet connection. Recently, the company completed a live demonstration of both SPOTD NODE and SpotlightAI(TM) OnSite with members of multiple departments of the U.S. military, representing a new commercialization milestone for both solutions.
SPAI also announced that the company continues to advance efforts to support the U.S. military by collaborating with suppliers of drone technologies to the U.S. Army Short Range Reconnaissance (“SRR”) Program of Record to embed AI technology in drones.
These collaborations have the goal of letting both U.S. and allied ground personnel find and identify more than 150 types of explosive threats in real-time, including landmines, cluster munitions, and unexploded ordnance (“UXO”). The collected data is then seamlessly integrated into situational awareness systems used by the U.S. Army, like the Tactical Awareness Kit (“TAK”) platform.
When speaking about SPAI and the progress of the company, CEO and Chairman of SPAI, Dan Erdberg, said that “Momentum at Safe Pro Group continues to build as we make progress new technological and operational milestones in our mission to harness drones and AI to protect soldiers and support humanitarian operations around the world,”. He added that “We remain deeply committed to advancing technologies that save lives and to working closely with our growing list of partners to bring these solutions to those who need them most.”
About Safe Pro Group Inc. (NASDAQ: SPAI)
Safe Pro Group is a mission-driven tech company that delivers AI-powered solutions to customers in the defense, security, humanitarian, and commercial markets. The company operates across hardware, software, and field services to offer a comprehensive solution to aid in humanitarian, public safety, and defense missions across the globe.
For more information, visit the company’s website at www.SafeProGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to SPAI are available in the company’s newsroom at https://ibn.fm/SPAI
