December 18, 2020 | International, Aerospace
By: Joe Gould
WASHINGTON ― Epirus, a venture-backed startup offering a counter-drone capability, announced Thursday it raised $70 million to speed its technology to market.
The round was led by San Francisco, California-based Bedrock Capital, and brings the 2-year-old company's total capital raised to roughly $80 million.
The news comes six months after Epirus inked a strategic supplier agreement with Northrop Grumman to provide exclusive access to Epirus' software-defined electromagnetic pulse system Leonidas. Since then, the firm has doubled in size and plans to add 100 jobs in 2021.
“We're aggressively hiring and expanding our footprint on the East and West coasts,” Epirus CEO Leigh Madden told Defense News. He added that the firm is shifting its headquarters from the Hawthorne, California, office to its newer offices in Tysons Corner, Virginia.
Alongside Bedrock and several other investment firms, L3Harris Technologies is investing in Epirus. Epirus developed a SmartPower power-management technology that underpins its counter-unmanned aircraft system, and the company plans to partner with L3Harris to create greater power efficiencies within some of its existing systems.
The technology, which allows the system to deliver a high-power output with a relatively low-power input, has a range of applications across other radio frequency systems, Madden said. (The company's systems involve a combination of high-power microwave technology and, for enhanced targeting, artificial intelligence.)
The new funding, “enables us to rapidly build out our counter-UAS system,” Madden said. “We'll be bringing the Leonidas system to market as well as advancing the capabilities of our SmartPower technology ― and working with government customers and partners to expand the application of that technology.”
Beyond Bedrock and L3Harris, the new Series B funding came from Piedmont Capital Investments, 8VC, Fathom VC and Greenspring Associates. In 2019, Epirus closed $17 million in Series A funding, which was led by 8VC. (Series A is meant to help a company progress to the development stage, and Series B is meant to help a company market or expand its existing market footprint.)
Geoff Lewis of Bedrock Capital said in a statement that investors are “confident Epirus has the capacity to integrate its technology into top tier counter-UAS systems and lead the way in developing new and compelling directed energy applications.”
“Epirus counters the weak assumption baked into standard VC models that the economic and cultural gaps of defense-focused investments are too wide to overcome,” Lewis said.
March 3, 2021 | International, Aerospace
Lockheed Martin on Feb. 22 received a $428 million U.S. Air Force contract for 400 Joint Air-to-Surface Standoff Munitions (JASSM) in Lot 19 and a $414 mil
May 31, 2019 | International, C4ISR
By: Mark Pomerleau Across the Department of Defense, organizations and agencies want to transport parts and ready-to-go systems to field units on demand. For the Army's sustainment community, this means keeping up with the dynamic pace of deployments to by placing qualified workers closer to the battlefield or assembling reserve systems ahead of time. Mobile, expeditionary equipment, which includes communications and networking gear, wasn't required for the counterinsurgency fight in Iraq and Afghanistan. There, the Army was able to take advantage of predicable rotations in a relatively permissive theater from a technology standpoint, Communications and Electronics Command Commander Maj. Gen. Randy Taylor told C4ISRNET in a May 20 interview in his office at Aberdeen Proving Ground. Now, Communications and Electronics Command, responsible for sustaining and refurbishing Army command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance (C5ISR) systems, is looking to adjust to this new unpredictable world. Taylor said the Army is focusing on global hot spots where it thinks it might have to respond with soldiers by sending the proper technicians ahead first. Army staffers are also making sure they configure systems as much as possible in advance of competition, however, but forward technicians can assist if systems break or need to be tweaked. The Army's premier depot maintenance center, Tobyhanna Army Depot in Pennsylvania, has established depot maintenance facilities in Korea and Europe. This allows much of the depot work to be done in the field, reducing the repair times so units can get their equipment back faster. This setup means only items that have to go back to Tobyhanna are then shipped back. One of the big shifts in a renewed focus on so-called great power competition versus the prior years of counterterrorism, Taylor said, is supporting mobility and immediacy, or what senior Army leaders refer to as “fight tonight.” “What we're looking at now with this possible near peer conflict is fight tonight expeditionary,” he said. “That's part of the imperative for modernizing the network so it's lighter, faster, more capable, but sustainment has to keep pace with those expeditionary units.” One area in particular the Army has reevaluated in this vein is its pre-positioned stocks. These are equipment that sit forward so units that deploy don't have to take everything they need with them. While declining to offer a region by name, Taylor said in certain areas, rather than just putting C5ISR systems in proximity of platforms stored in the same compound, they are installing the systems on the platform in these pre-positioned areas so that they can be ready to “fight tonight.” https://www.c4isrnet.com/it-networks/2019/05/30/the-army-wants-c5isr-systems-on-demand/
October 26, 2023 | International, Aerospace
Swedish defence contractor Saab reported on Thursday a jump in third-quarter profit helped by high demand and raised its full-year sales outlook, sending its shares up 7% in early trade.