Airspace Link, a provider of drone safety software and data solutions, has completed a $23million Series B capital raise led by Avanta Ventures with new investment from Morningside, Caprock, and follow-on investment from Altos Ventures, Indicator Ventures, 2048 Ventures, Detroit Venture Partners, and Thales Group.
Founded in 2018 in Detroit, Michigan, Airspace Link has raised a total investment of $37million.
"Drones are an exciting new form of mobility, with advanced hardware now available at scale. Airspace Link provides the safety infrastructure for drones, focusing on the precise data, software, and analytics required to support scalable operations. Airspace Link's products and services, through the AirHub Platform, are utilized in all aspects of the industry, whether for informing safety cases, compliance, policy decisions, risk management, or insurance modelling. We're excited to rapidly expand our offerings and societal impact with this infusion of capital," says Michael Healander, Co-Founder & CEO of Airspace Link.
As the venture capital arm of CSAA Insurance Group, a AAA insurer, Avanta Ventures is aligned with one of the top personal lines of property and casualty insurance underwriters in the United States.
"Our investment in Airspace Link aligns with our deep focus on mobility innovation, safety, and risk management," says David Li, Principal at Avanta Ventures. "We look forward to working with Airspace Link to accelerate aerial mobility in the safest manner for consumers and communities at scale."
With this funding, Airspace Link will continue to invest in and expand on initiatives to support the safe scaling of drone usage.
"A great validator of go-to-market strategy has been the excitement and buy-in we've seen from investors and partners on our financial business model and partner-centric approach. The confidence of investors, as shown by this capital raise, will enable us to meet the rapidly growing demand we're seeing in the market, both in the U.S. and globally," said Bill Johnson, CFO of Airspace Link.