Undefined Technologies Corp, a Florida-based tech startup working on the first silent eVTOL drone powered by ion propulsion, announced that it has completed its Seed Series funding with a valuation just shy of $2MM.
This round was led by Dresden Capital Partners Fund, Ltd., with participation from Rio Vista Advisors, Inc., Biscayne Bay Advisors LLC, and Thunder Road Properties, L.P. With the additional capital infusion, Undefined Technologies moves closer to completing the commercial development of their ion propulsion drone.
“We are incredibly excited about this support from our current and new investors who help us advance our novel technology and achieve our ambitious goals,” says Tomas Pribanic, Founder and CEO of the company. “The new funding clearly illustrates investor confidence in the disruptive role of our innovation for the urban cargo delivery market.”
Last April, the company, newly incorporated in Delaware, had a successful first mission flight of a drone powered by ion propulsion. The fully electric technology uses innovative physics principles which work not only in the vacuum of space, free from the earth’s gravitational pull, but also in atmospheric conditions with ‘unprecedented’ levels of thrust up to 3X more than existing ion thruster technologies.
The novel technology, backed by the University of Miami, will generate noise levels below 70 decibels, which would fall under the threshold established by several county noise ordinances. In addition, ionic propulsion produces zero carbon emissions, allowing this high-powered system to be utilized without harming the environment. The process uses a high-voltage electric field to ionize the air molecules in the atmosphere, which then naturally return to their original state after ionization.
“As major goods delivery companies accelerate the deployment of drones in urban areas, we will see higher demand for autonomously operated drones that comply with federal and county regulations and ordinances. Undefined Technologies has established itself as the disruptive company in this category. We’re excited to continue to invest in this magical combination of breakthrough technologies, exceptional vision, and an incredible team,” said investor Scott Dresden.
“Ion propulsion technologies also offer unique opportunities in generating silent thrust, zero emissions, and will inevitably affect industries vertically and horizontally across sectors enhancing the addressable market dramatically. The challenge is fascinating and achievable from many other perspectives including the creation, storage, inversion, and thermodynamically efficient transmission and dissipation of energy. From the moment we met Tomas Pribanic and his team and through a rigorous diligence process, we knew this was going to be a company that challenges paradigms and exceeds expectations through proven scientific inquiry and methodology to the benefit of innovative accomplishments in the engineering sciences”
Undefined Technologies, in partnership with the University of Miami, is developing a silent cargo drone powered by ion propulsion aimed to disrupt urban cargo delivery. The novel Air Tantrum technology creates a technical and commercial opportunity for ion thrusters to become a viable electric propulsion option. With this innovative technology, noise levels below 70 decibels will be reached, complying with the noise restrictions established by major county ordinances throughout the country. Undefined Technologies is exploring the possibility of using drones for various supply chain activities, including delivering everything from online shopping packages and groceries to vital medicines.
Source: Press Release
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