Just one year after closing a $10 million funding round, a Detroit-based drone software company that seeks to build highways in the sky for unmanned aircraft is on another high-flying path.
Airspace Link Inc. said Wednesday it closed on a Series B funding round totaling $23.1 million at a valuation of about $200 million, according to an estimate by Crain's Detroit Business, an affiliate of Automotive News. The four-year-old company has now raised a total of $37 million.
The added money in the bank allows the company to continue growing its head count, which has swelled from 17 one year ago to 45 today, with another doubling expected in the coming months; and also further building out its relationships with state and local governments for infrastructure contracts, a primary source of revenue.
Beyond those areas for growth, the funding allows the company to start having a global footprint, something it already has the general capability to do, according to Michael Healander, the founder and CEO of Airspace Link.