- Founded by Aviv and Matteo Shapira, Xtend, a drone company, originated from the success of Replay, a pioneer in 360-degree video replays for sports broadcasting.
- Xtend’s platform aims to simplify drone and robot control, offering direct control options or AI training capabilities for various tasks.
- The company announces a $40 million funding round led by Chartered Group, valuing Xtend at approximately $110 million post-money.
- Xtend focuses on empowering operators while retaining human decision-making, particularly in defense and law enforcement applications.
- Despite scrutiny from international monitors regarding R&D funding, Xtend has secured contracts with major defense agencies, including the Israel Defense Forces and the U.S. Department of Defense.
- Xtend plans to expand its workforce by 50% and pursue international growth, particularly in Japan, supported by its recent funding infusion.
Main AI News:
Xtend, the controversial drone company, fortifies its position in the defense sector with a recent $40 million funding injection. Founded nearly a decade ago by brothers Aviv and Matteo Shapira, Xtend emerged from the success of Replay, a company pioneering 360-degree video replays in sports broadcasting. Following Intel’s acquisition of Replay for $175 million in 2016, the Shapira brothers were introduced to Rubi Liani, founder of Israel’s official drone racing league (FRIL), igniting the spark for Xtend’s inception.
Driven by a vision to simplify the control of advanced robots, especially drones, Xtend endeavors to make this technology intuitive and accessible to a broader audience. Their platform facilitates the management of drones and robots, offering direct control options or AI training capabilities for various tasks, from object identification to navigating complex environments.
Today, Xtend announces a significant funding round of $40 million, led by Chartered Group, valuing the company at approximately $110 million post-money. Aviv emphasizes their platform’s ability to empower operators while retaining crucial decision-making in human hands, a balance between autonomy and supervision.
Xtend’s platform enables the orchestration of teams of drones and robots for autonomous operations, leveraging past data to recommend optimal actions. With applications across industries such as public safety and logistics, Xtend places a strong emphasis on military, defense, and law enforcement sectors.
Having secured contracts with the Israel Defense Forces (IDF) and the U.S. Department of Defense, Xtend is positioned to develop and deliver systems for operational evaluation, including drone interceptor technologies. Despite potential regulatory challenges, Xtend eyes expansion into civil market opportunities like private and public security, envisioning scenarios where law enforcement could leverage their technology for enhanced operations.
However, Xtend faces scrutiny from international monitors, notably for receiving R&D funding from the EU’s Horizon Europe fund, despite restrictions on military projects. Despite controversy, Xtend’s strategic alignment with defense interests appears fruitful, boasting $50 million in contracts across a diverse customer base.
Looking ahead, Xtend plans to expand its workforce by 50% and pursue international growth, particularly in Japan, supported by their recent funding infusion. As Xtend continues to develop its platform-as-a-service and software-as-a-service sales models, the company remains at the forefront of shaping the future of human-machine collaboration in complex scenarios.
Conclusion:
Xtend’s latest funding round signifies a significant investment in the defense sector, reflecting growing demand for advanced drone technologies. With contracts from major defense agencies and a focus on empowering human operators, Xtend is well-positioned to capitalize on opportunities in defense and law enforcement markets, driving innovation and reshaping the future of human-machine collaboration in complex scenarios.
