AI collaborative sensing solutions provider, MatrixSpace, has announced the successful completion of its Series A funding round, raising $10M. This brings the company's total funding to $20M since its inception in 2020. The additional funding will be utilized to drive technological advancements, enhance customer adoption, and fuel revenue growth. Raptor Group led the Series A round, with participation from Intel Capital and a group of distinguished technology executives.
"Greg Waters and his team have outstanding track records of innovation and success in radio frequency technology, intelligent systems, and AI," said Intel Capital Managing Director David Johnson. "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."
MatrixSpace specializes in compact, AI-powered radar systems that offer exceptional sensory range over long distances. This innovative solution finds application across various industries, including critical infrastructure security, general aviation and transportation, defense, and robotics. The company's latest product, the MatrixSpace Radar, showcases its ability to provide affordable AI sensing technology to markets that were previously unable to access such capabilities.
"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," said Rob Broggi, Partner at Raptor Group. "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."
Rob Broggi, a seasoned advisor with over 30 years of experience, will join the MatrixSpace Board of Directors. His addition to the board further strengthens the company's leadership team and brings valuable expertise in the industry.
"We’re honored to be moving forward with such a highly capable team of investors, new board member, and advisors," said Gregory Waters, Co-Founder & CEO of MatrixSpace. "After a meaningfully oversubscribed round, the MatrixSpace team can accelerate delivery of many compelling new solutions to customers."
With this recent investment, MatrixSpace is well-positioned to advance its AI collaborative sensing solutions and drive innovation in the industry.
.png)
