The view from above by satellites coupled with big data and algorithms makes the world a safer place. An Israeli startup has a solution and looking for investors. Learn more about the investment opportunity on VonNaftali by a subscription for $29,90
The largest crowdinvestmentplatform ‘OurCrowd‘ is reinvesting in the Israeli startup from Herzliya: Edgybees, established 2017, is 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 Challenge
The global challenge is that for example 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.
Further, fixing inaccurate Full-Motion Video and satellite images used by commercial and government operators and analysts is both time consuming and costly, often compromising your ability to make timely informed decisions.
AI-powered software improves the position accuracy of aerial video (like that from drones) and satellite imagery on the fly. With enhanced precision down to 1-3 meters, Edgybees provides a single reliable source of truth for geographical positioning across video, images, and reference maps.
Edgybees provides with its SaaS-software visual context in real time, highlighting roads, buildings, and other important location data on top of your satellite and motion imagery. Edgybees Wins 2022 AI TechAward for Visual/Image Machine Learning.
Background Investment
On OurCrowd there is now an opportunity to invest in this startup. The investment frame is according to OurCowd: “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.”
The capital is needed for further expansion and reasonable strategic business opportunities are a given. In the outline you can read: “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.”
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Service
Meet the CEO: OurCrowd is 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.
Disclaimer: This article is no suggestion, recommendation or consulting for an investment in this company. This article is not paid by OurCrowd or any other third parties: No media cooperation. Please read our Terms.