Terrifying Drone Company Isn't Dead—It's Getting $7 Million




CyPhy makes nightmarish contraptions for its military clients: flying drones that can be easily operated on the battlefield, and which never need to be recharged because they’re tethered to a power supply. The periodically dormant company (at least publicly) is about to get a fresh infusion of cash.

CyPhy is the second act of iRobot co-founder Helen Greiner, maker of the famed Roomba robot vacuum cleaner, arguably the first homebound robotic product to win over mainstream consumers (the company does about a half billion dollars in sales per year). CyPhy spent years in “stealth” mode before unveiling its products, a pair of drones, in December 2012. At the time, it was estimated that the company had about $3 million in financing — not a lot for a hardware startup. Since then, CyPhy hasn’t announced anything of substance, but today’s $7 million round of funding, led by Lux Capital and including General Catalyst Partners, Felicis Ventures and some anonymous angel investors, indicates that someone has faith in the company’s indefinitely hovering drones. Read more...

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