LendurAI, an Estonian startup developing autonomous drone solutions, raised 5.57 million euros from investors to, among other things, double its engineering team.
Estonian startup LendurAI, a pioneer in advanced autonomous drone technology, has successfully closed a €5.57 million seed funding round. This significant investment will fuel the company's ambitious plans to expand its global business development, double its engineering team, and further refine its cutting-edge AI-powered drone solutions.
The funding round was led by Expeditions Fund from Warsaw, with participation from HCVC (Paris, San Francisco, and Tokyo) and Vsquared Ventures (Munich). Notably, €480,000 of the total investment came from Estonia, highlighting strong local support for the innovative startup.
Siim Maivel, co-founder of LendurAI, emphasized the strategic importance of this funding. "Raising seed capital is a significant milestone for us," he stated. "European technological sovereignty needs adaptable solutions – and we are building it." Maivel also commented on the company's immediate plans: "We are expanding our business development to achieve a global reach and growing our engineering team to focus on challenges related to machine learning, simulation, and drone control."
LendurAI's unmanned aerial vehicles stand out due to their advanced **onboard artificial intelligence**, which allows them to operate autonomously even when satellite or radio signals are unavailable. This capability is critical for reliable performance in complex and contested environments.
According to LendurAI's co-founder and CEO, the European defense sector is in dire need of a new generation of drone technology. "Our autonomous solutions are reliable, scalable, and battle-tested," he shared with tech.eu. "The AI operating on board the drone allows the device to react faster and smarter, even in complex electronic warfare conditions."
Mikolaj Firlej, co-founder of Expeditions Fund, highlighted what sets LendurAI apart from its competitors. "LendurAI differentiates itself by combining high-level autonomy with affordability," he noted. "Typically, a customer has to choose between price and performance; LendurAI offers both."
LendurAI also stresses the crucial role of autonomous drones in securing European technological and strategic independence. A testament to their user-friendly design, operator training for LendurAI drones reportedly takes just two days, a stark contrast to the often two-month training periods required for conventional systems. This efficiency makes advanced drone technology more accessible and deployable.
Founded in February of last year by Siim Maivel, Mark Cowan, and Sergii Kharagorgiiev, LendurAI is quickly making its mark. Maivel praised his team, saying, "I cannot imagine a more competent, motivated, and fun team to get things done and make a real impact."
This latest funding round will enable LendurAI to scale its existing product, develop the next phase of its long-term strategy, expand sales and business development, and significantly boost its engineering capabilities, solidifying its position at the forefront of autonomous drone innovation.
The funding round was led by Expeditions Fund from Warsaw, with participation from HCVC (Paris, San Francisco, and Tokyo) and Vsquared Ventures (Munich). Notably, €480,000 of the total investment came from Estonia, highlighting strong local support for the innovative startup.
Siim Maivel, co-founder of LendurAI, emphasized the strategic importance of this funding. "Raising seed capital is a significant milestone for us," he stated. "European technological sovereignty needs adaptable solutions – and we are building it." Maivel also commented on the company's immediate plans: "We are expanding our business development to achieve a global reach and growing our engineering team to focus on challenges related to machine learning, simulation, and drone control."
LendurAI's unmanned aerial vehicles stand out due to their advanced **onboard artificial intelligence**, which allows them to operate autonomously even when satellite or radio signals are unavailable. This capability is critical for reliable performance in complex and contested environments.
According to LendurAI's co-founder and CEO, the European defense sector is in dire need of a new generation of drone technology. "Our autonomous solutions are reliable, scalable, and battle-tested," he shared with tech.eu. "The AI operating on board the drone allows the device to react faster and smarter, even in complex electronic warfare conditions."
Mikolaj Firlej, co-founder of Expeditions Fund, highlighted what sets LendurAI apart from its competitors. "LendurAI differentiates itself by combining high-level autonomy with affordability," he noted. "Typically, a customer has to choose between price and performance; LendurAI offers both."
LendurAI also stresses the crucial role of autonomous drones in securing European technological and strategic independence. A testament to their user-friendly design, operator training for LendurAI drones reportedly takes just two days, a stark contrast to the often two-month training periods required for conventional systems. This efficiency makes advanced drone technology more accessible and deployable.
Founded in February of last year by Siim Maivel, Mark Cowan, and Sergii Kharagorgiiev, LendurAI is quickly making its mark. Maivel praised his team, saying, "I cannot imagine a more competent, motivated, and fun team to get things done and make a real impact."
This latest funding round will enable LendurAI to scale its existing product, develop the next phase of its long-term strategy, expand sales and business development, and significantly boost its engineering capabilities, solidifying its position at the forefront of autonomous drone innovation.
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