Ukrainian startup Bavovna.AI has announced the closing of its $1.7 million late seed round. The startup develops autonomous navigation systems for drones and is currently based in the United States. Bavovna.AI shared the deal's details to AIN.
About Bavovna.AI
- Bavovna.AI's develops autonomous navigation systems which are based on artificial intelligence. The dual-purpose technology is able to ensure the operation of UAVs in environments with GPS jamming and electronic warfare (EW) threats, without the need for maps or communication with the drone itself.
- The company's solutions help overcome critical challenges faced by military and commercial UAV operators in the air, on land and underwater.
Investment details
- Presto Tech Horizons is the lead investor this round. Network VC, Allied VC, and a number of private investors also joined the investment.
- To date, the company has raised $2.7 million and successfully completed the seed financing stage.
- With the new investment, the company will be able to scale production in North America and countries in Europe, the Middle East and Africa in accordance with the requirements of the NDAA (US National Defense Act).
The funds will also be used to enhance existing product lines and explore new areas of development in both the defense and commercial sectors.
The lead investor, Presto Tech Horizons, has experience investing in deep-tech and dual-use technologies, providing Bavovna.AI with not only capital, but also access to a broad network of customers and partners in both the commercial and defense sectors. Earlier, AIN reported on this investment, however the deal's amount has just been disclosed now.
