Overwatch Imaging, an Oregon venture that specializes in airborne imaging systems, says it has won a multimillion-dollar investment from Tenax Aerospace, which focuses on aviation solutions that are specialized to suit the needs of its clients in government and the commercial sector.
The Series A funding deal, announced today, builds on an existing partnership between Overwatch and Tenax, a privately held company that’s based in Mississippi. It marks the first outside investment taken in by Overwatch, which was founded in 2016. Overwatch CEO and co-founder Greg Davis said the size of the investment amounts to millions of dollars, but he declined to be more precise.
The money will go toward expanding Overwatch’s production operations into a larger facility in Hood River, Ore., and accelerating development of the company’s AI software for autonomous imagery collection and analysis.
In a news release, Tenax Aerospace’s president, Taran Bakker, called Overwatch “an emerging leader in artificial intelligence and autonomy in airborne imaging.”
“Overwatch Imaging has developed an exciting new technology that will be very valuable to customers with special missions involving surveillance, mapping or threat detection,” Bakker said.
Tenax Aerospace provides special mission aircraft and related services to customers including the Federal Aviation Administration and the departments of Defense, Justice; Agriculture and Homeland Security. The company focuses on applications that are critical to national security and the public interest, including aerial fire suppression, aerial intelligence gathering and airborne data acquisition.
Tenax and Overwatch are already working together on a U.S. Forest Service project related to monitoring and fighting forest fires. That project involves the use of Overwatch’s imaging system on Tenax’s aircraft. Future projects could focus on applications such as border surveillance and maritime traffic monitoring.
Davis said Tenax Aerospace emerged as the ideal partner for Overwatch Imaging’s expansion campaign during a six-month process to assess potential investors. As a result of that process, Tenax will be contributing more than money: Bakker will be joining Davis and co-founder Nick Anderson on Overwatch’s board.
“We immediately shared a common vision for the future,” said Davis, who’s a veteran of Boeing’s Insitu drone subsidiary. “I am excited to have Taran’s expertise and enthusiasm on our board as we grow.”
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