Tel Aviv-based startup Sightec has completed a $2m seed round as it aims to look into a new autonomous navigation system.
The funding round led by Sherpa InnoVentures and Playfair Capital, will see Sightec utilise its visual situation awareness system to enable autonomous flying vehicles to navigate, land and perform complex analytics tasks in real-time.
Sightec’s patented innovation gives flying vehicles the ability to analyse its ever-changing surroundings in real-time, without relying on outside connectivity.
“We are entering the decade of autonomous flights” said Roy Shmuel, Sightec’s CEO. “The commercial drones market is becoming more autonomous with drones that are capable of performing complex tasks that were impossible before, like inspection of critical infrastructure and delivery of goods. The next big aviation project is Urban Air Mobility or the flying taxi.
"Over the past few years major players like Uber, Airbus and Boeing have introduced the first flying taxi models. What was seen as science fiction is becoming a reality that will change the future of mobility. Sightec is working on innovative AI based technologies for the aviation market with aims to bring higher automation and increase the flight safety, bringing the industry closer to this ambitious vision.”