New Investment Opportunity: Edgybees
Transform satellite and motion imagery into actionable data
- Proprietary AI/ML software uses data from video, satellite imagery, other sources to provide GPS location in real time; used extensively by defense and emergency services
- Geo-registration data accuracy improved from 50m to <2m
- Projecting 200% YOY bookings growth in 2022; first orders for new satellite product expected to be signed within weeks, including multiyear deal worth several million dollars with global provider of satellite imagery services; PoCs with Accenture Federal, ST Engineering; partnerships with AWS, BAE, Boeing, Microsoft Azure; pipeline includes AerialSphere, Black Sky, SkyWatch, Urban Sky
- "Classified networks" approval received from US DoD, enabling sales to US military, crucial first step toward DoD contracts with multimillion-dollar potential revenues
- Newly-appointed CEO Dr. Shay Har Noy is highly experienced SpaceTech professional, previously GM of Aviation at Spire, VP of Platform at DigitalGlobe/Maxar
- Up to $5M Series Preferred A-2 Round with participation from existing investors Verizon Ventures, Seraphim and Refinery
BOOK A CALL
with your Investor Relations representative
Dear Josb,
The world is experiencing a flood of visual data from aircraft, drones, and earth imaging satellites, but the imagery is usually off by several meters in distance and missing geographical context. Edgybees' software aligns data from any satellite or aerial sensor to the real world with unprecedented speed and location accuracy.
OurCrowd is reinvesting in Edgybees, a Geo-SaaS company that leverages AI to align data and imagery with the ground truth of the physical world for confident real-time decisions. The details in this email are based on information received from, and verified solely by, the company.
The Problem
Public safety, defense, emergency and other critical services increasingly rely on visual information from satellites, drones, sensors and other sources. These images lack both geographical accuracy and context which are crucial when making successful tactical decisions.
The Solution
Edgybees' AI-driven software combines computer vision, multi-sensor data analytics and 3D video generation to provide a visual layer of highly accurate, real-time information. The core of the software is its geo-registration engine which can tie images from sources such as video feeds from drones and satellite imagery to known locations with an accuracy of less than 2 meters. The processing is done within seconds, essential for situations where accuracy and context matter most.
The Traction
Edgybees recently launched a new product, operational in the Ukraine war, which uses AI and ML to analyze satellite images. The company has received an initial order for the product from a large, global provider of satellite imagery services, expected to generate revenue of several million dollars over the next 3-5 years. Additionally, the company has completed PoCs with Accenture Federal and ST Engineering, and signed partnership agreements with AWS, BAE, Boeing and Microsoft Azure. Other companies in the immediate pipeline include AerialSphere, Black Sky, SkyWatch and Urban Sky. Edgybees projects 200% YOY bookings growth by the end of 2022.
In mid-2022, the firm received "classified networks" approval from the US Dept. of Defense, enabling it to sell its products to the US military. Contracts with the US DoD, especially those that become "programs of record" and form a line item on the DoD's budget, are often extremely lucrative and could generate revenue of tens of millions of dollars over multiple years. Receiving this security clearance from the DoD is a crucial first step to signing such a deal.
Edgybees is raising additional funds to increase the company's runway through 2023, allowing it to invest resources in both its satellite product and the aerial full motion video product. The company also experienced delays in revenue from a major project signed with the USAF due to the lack of approval to be installed on classified networks. This has now been granted, allowing the agreement and subsequent payments to proceed.
The Team
Dr. Shay Har Noy has assumed the position of CEO. Dr. Har Noy is a highly experienced professional with nearly two decades of experience in the SpaceTech industry, including senior management positions at Spire and DigitalGlobe/Maxar. He also spent time at Uber as the Boulder site lead and as a team leader on the Uber Maps product.
The Round
OurCrowd has a $1.5M allocation in this up to $5M Series Preferred A-2 Round with participation from existing investors Verizon Ventures, Seraphim and Refinery.
Meet the CEO
We're hosting a webinar/conference call on Thursday, December 1st, at 7PM Israel / 12 Noon New York / 9AM San Francisco for investors to meet CEO Dr. Shay Har Noy and learn more about Edgybees.
Can't make the webinar? Register and we will send you a recording of the call.
The Edgybees Solution
Edgybees' AI software combines advanced computer vision and machine learning technologies to accurately match aerial video and satellite imagery to the real world in real time. This unique approach enables rapid decision making by ensuring the location of the data is accurately aligned with the real world, and by visually augmenting roads, key landmarks, and other mission-critical data on top of live video and satellite images – via the company's own platform or by integrating with third-party virtual augmentation technology.
Edgybees' flexible positioning options facilitate rapid deployment in any environment and reduce the total cost of ownership. Its AI software can be deployed on customers' premises using standard, off-the-shelf hardware, or in the cloud.
Next steps:
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