Prioria Robotics gets $5.5M From Athenian, Advantage Capital, Florida Gulfshore

Athenian Venture Partners Joins $5.5M Round of Financing for Prioria Robotics 

Funding to drive growth of Maveric Unmanned Aircraft System and Merlin Platform GAINESVILLE, Fla. – June 25, 2012 – Prioria Robotics, a leader in the development of small unmanned aerial systems, announced today that it has completed the final tranche of a $5.5 million Series C Preferred round of funding. Athenian Venture Partners, a venture capital firm specializing in investments in information technology and healthcare companies, joined a financing round together with Advantage Capital Partners, the lead investor, and existing investor Florida Gulfshore Capital. Prioria Robotics will use the new financing to advance the growth of its unmanned aerial system (UAS) platforms for military and civilian applications. The UAS market is expected to grow from $5.9 billion in 2011 to $10.2 billion by 2016, according to Teal Group. With foreign and domestic militaries adopting and deploying these systems and civil and commercial segments in the early growth stages, there are expanding opportunities for companies with effective products that serve this growing market need. Prioria Robotics satisfies this need with the Maveric Unmanned Aircraft System (UAS) and Merlin embedded processing platform, which are successfully deployed in theatre and operational settings. […]
Prioria Robotics gets $5.5M From Athenian, Advantage Capital, Florida Gulfshore