Darkhive Inc. Closes $4M Seed Round to Scale Development of Low-cost Autonomous Drones for Defense and Public Safety

Rhea-AI Summary

Darkhive Inc. (DH) announced the closing of a $4M Seed round led by Crosslink Capital and joined by MVP Ventures, Capital Factory, and existing investor Stellar Ventures. This financing will accelerate production of hardware and software product lines for Department of Defense initiatives, following contracts worth $14M in the past year. CEO John Goodson emphasized the importance of strategic investors for future success, aiming to deliver value at scale to supported communities.

Positive

• Successfully closed a $4M Seed round with prominent investors
• Received contracts totaling nearly $14M in the past year
• Strategic investors will enable the company to hit critical milestones in 2024 and beyond

Negative

• None.

SAN ANTONIO, Nov. 30, 2023 /PRNewswire/ -- Darkhive Inc. announced the closing of a $4M Seed round led by Crosslink Capital and joined by MVP Ventures, Capital Factory, and existing investor Stellar Ventures. This round of financing will enable Darkhive to accelerate production of both hardware and software product lines in support of high-profile Department of Defense initiatives. In the past year, Darkhive has been awarded contracts totaling nearly $14M, but collaboration with key strategic investors provides a critical component to the future success of the company.

"We have some hard timelines to hit in 2024 and beyond in order for our products to provide real value at scale to the communities we support," said Darkhive CEO John Goodson, "We're excited to be teamed up with Crosslink and our other partners that joined the round to hit those milestones and deliver for our customers."

Matt Bigge, Partner at Crosslink Capital and Darkhive Board Member, commented "Darkhive represents the future of uncrewed systems. Their open hardware and software architecture enables the first truly scalable, interoperable and cost appropriate approach to US-made drones. Crosslink is excited to work with the Darkhive team to facilitate this strategic architectural approach at a critical time for US National Security."

About Darkhive:

Founded in 2021, Darkhive has placed an emphasis on developing affordable, US-manufactured uncrewed systems with open hardware and software interfaces to provide life-saving situational awareness at home and abroad. Darkhive has previously been awarded a Phase III Small Business Innovation Research IDIQ with AFWERX Autonomy Prime, multiple Phase II SBIR/STTR awards with AFWERX and the Air Force Research Lab, as well as OTA contracts with the Office of the Undersecretary of Defense Research and Engineering Innovation and Modernization and the Defense Innovation Unit National Security Innovation Capital. 

About Crosslink Capital:

Crosslink is a leading early-stage venture capital firm based in the Bay Area with over $4B in AUM. Crosslink partners with founders that are market disrupters and category creators, typically at the Seed-Series A stage, across highly dynamic enterprise and consumer technology sectors. 

The firm aims to partner with exceptional founders and assist them in building successful companies by providing capital, expertise, and a strong network of connections. Over its history, Crosslink has had the opportunity to partner with defining companies such as Bleacher Report (acquired by TWX), BuildingConnected (acquired by ADSK), Chime, Coupa (COUP), Omniture (acquired by ADBE), Personal Capital (acquired by Empower Retirement), Postmates (acquired by UBER), ServiceMax (acquired by GE), Vungle (acquired by Blackstone), Verodin (acquired by FEYE) and Weave (IPO NYSE: WEAV).

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SOURCE Darkhive

What is the latest funding round announced by Darkhive Inc. (DH)?

Darkhive Inc. (DH) announced the closing of a $4M Seed round led by Crosslink Capital and joined by MVP Ventures, Capital Factory, and existing investor Stellar Ventures.

What will the financing enable Darkhive Inc. (DH) to do?

The financing will enable Darkhive to accelerate production of both hardware and software product lines in support of high-profile Department of Defense initiatives.

How much were the contracts awarded to Darkhive Inc. (DH) in the past year?

In the past year, Darkhive has been awarded contracts totaling nearly $14M.

Who emphasized the importance of strategic investors for future success?

CEO John Goodson emphasized the importance of strategic investors for future success, aiming to deliver value at scale to supported communities.

Who led the recent Seed round for Darkhive Inc. (DH)?

The recent $4M Seed round was led by Crosslink Capital.