DroneShield has increased its capital raise by 40 per cent to AUD105 million following strong domestic and international investor support for its plans to bulk up inventory and bolster the engineering team. Shaw and Partners and Bell Potter Securities are overseeing the deal.
Australian financial media outlets report that the Sydney-based company plans to use AUD80 million of the funds to build up inventory, with equipment ranging from handheld detection and defeat systems to its vehicle-mounted systems that detect and take down drones.
DroneShield CEO Oleg Vornik also shared the news on LinkedIn.
The funds will also be used to accelerate the development of in-house artificial intelligence and machine learning engines and capabilities.
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