Asylon Robotics Company Raises $12M+ In Government Funding, 2024 Profile
Security drones have shown promise for years but have not yet delivered large-scale deployments. How does Asylon's recent $12 million raise change the outlook for the company?
In this report, based on our interview with CRO Michael Quiroga and National Sales Director Ryah Hodges, we examine the company's recent fundraising, what it means to them, and Asylon's outlook.
For more background on other drone-for-security companies, see:
- Nightingale Security Drone Profile 2023
- Sunflower Labs Drone Manufacturer Profile 2023
- Indoor (Drone) Robotics CEO Presentation
Executive *******
****** **** **** **** **** ****** this ***** ** "****** ***** ****" and **** "**** * ***** ********," as ****'** "******* *** ******* ** predictable *****" *** ******* *** ********** point ***** ********* **** ********** ************ of ****** *** ****** *** ********, as **** ** ****** ****** **** exposure ** ***** ************.
************, ******, ******** ********* **** *********** very ******* ******** (*** *******, ** 8-year-old ****** ****** *** **** **** 100 ***** ********) ** *** ******* for ******/****** ** ***** **** ******** to ******** *****, *********** *** ****** deployments, ***.
**** **** ** ********* ** ***** or ******** ******* ****** *** ***** "cracked *** ******* *** *********** *****."
**********
******, ******* ** **** ** ***** MIT *********, ******* ** ** "****** infrastructure *******" *** *** *** ***** drone-for-security ********** ** ****, ** ** told ****. ** ****, *** ******* expanded **** ***** **** ******* *** partnership **** ****** ******** *** *** offers **** ******-***** *** ******-***** ******* for ********* ********.
*** **** ********** ** ******, *** our **** ******* -****** *****/******** ******* *******.
$12 ******* **** ******** ************
** ******** ****, ********** ********* *** $** ******* ******* SBIR ********"** ********** *** *********** ** *** automated ******** ******** ******, *********, ** bases ****** *** *** ***** **********." As****'* ******* ********, **** ** * ********** ******* initiative *** "******** ***** **********" ** commercialize ***** **********. *******, ** *** other ****, ** * ***** *** Force ******* ********** ******** ** ****** on *** **** *******, ***** ******** ***** ******* *********:
*******/***** *** ******** ** ****** *** “Valley ** *****” ******* ****/**** ***** II ******* *** ***** *** ******* efforts, ************ ******** ** ********* ************ for *** ***
**** ** *** *** ***** **** that ****** *** ****** ******* *** SBIR ******* (** ****-******* ********), ** the******* ************* **** ******** "*********" ******** ~$* million (** *** ***** *******, ****** talks ***** **** **** ********* ***** nearly $* *******).
********* ** ************** ** *** ******* *******, ****** ******** ***** ** *** maximum ****** ** ***** **** *** be ******* ** * **** ** the ******* (*** ***** ** $*-$** million).
******'* ************ ***** ***** *********** ** Air ***** *****, *** ***** *** company **** **** ******** *** ********** deployments, *** **** ** *** ******** is ***** ** *** ********** ******, as ******'* ******** ******** ** ***** told ****:
** * ****-*** ********** *******, **** of ***** *** ************ *** ********** into *** ********** ****** *** ** use *** *********** ** *** ********** market, *****we *** ******* ********* ** * ***** ***** to help refine our operations for the DoD. [emphasis added]
"Prepping *** *****", "******* *** ******* ** *********** *****"
****** **** **** **** **** *** "prepping *** *****," *** **** *********** was ** **** **** ***** ******* goal ** ****** ***** ********** **** and **** **** * ***** ********, which **** ******* ****** **. *** company ****** *** ******** *******, ** they've "******* *** ******* ** * predictable ****," *** **** ** ***** customers *** ********* ***** *****/*** *********** from * "******* *******" ** * true ********** **********, ** *** ******* said:
We ******* **** **'** ******** *** *****. We've ******* *** ******* ** *********** *****, and we've cracked the formula of having a single entity buy off on this solution enough to start to ***** ** ********** ***** **********, *** **** ********* ** ** * ******* ******* ** *****. And so in true fashion when you find that the all these different pieces align together, then that's where you go for fund raise. We're ******* ******* ** ***** ** ****** ****** *** **** *** ******* *** *** **** **** *** ***** ******** that we believe you know, that we're the math is proving out to show [emphasis added]
Inflection ***** *******
*** ******** ******* **** ****** ***** is ********* *** ** ********* *** having **** ********** ************ ** ****** and ***** ******** ********* *** **** exposure ** **** **** ** ********** - ********* **** ****** ********* ** "hitting *** ********** *****" *** ******* the "*********** *****."
******'* ******** ******** ** ***** **** IPVM **** *** ********* **** ** his *** *** ****** * "****** bit ******," *** **** ********* ** whom ****** ***** ** *** ******** years *** ********* **** **** ******** ideas ** *** **** ***** ******* from *****/***** ************:
** ** ** **** ****** [***] coming **** ***** ** ****** ... I *****it's *** **** ****** **** **'** ****** ** **********, **** ******** ** **** **** **** * ****** *** **** ********* at this point here to **** *** ************ **** **** **** ****** and more productive as well
I ***** **'** ******** ** *** **** ********** *****. Really, people are understanding that there are additional additional types of systems out there, whether it's quadropad or tracked or wheeled or what have you. People *** ******** ** ********** **** ** *** ******* ******* *** **** ** *** ********* ******* and where companies like us or Knightscope or Cobolt kind of fit into the overall picture from an industry perspective. So again, kind of going back to education ** ****** **** **** ** *** ****. Talking through use cases and goals, identifying KPIs as well, that makes sense. And ** *'* ******** ** ********** **** **** ****'* ******** * ****** *** ******. And the, the gap from like start to like KPI and goal setting is a little bit sooner as well, now that people have some, just some additional exposure, so I think that just been an interesting interesting trend just over the past really 12 months [emphasis added]
Fewer **** *** *****, **** *****
***** *** ******* ** ****** **** it ******* *** ***** *******, *** number ** *********** ** ***** *****, as ****** *** *** ** ******* 100 ***** ********. ******** ** **** (when *** ******* *** "**+" ***********), Asylon *** ******* *** ****** ** units ** *** ***** *** ***** to ****** **** ****** ** ****.
****** ********* **** * **-** ***** in ***** ** ****** ***** ******* the ****.
*********** **** ****** ** ** *-****-*** company, *** ***** ** * ***** number, *******, **'* ******* ** **** other *****-***-******** ********* ********** **** *** deployments.
"War ** *********"
****** ************ **** ** **** ***** companies *********** *** **** ******* ** unfulfilled ***** ********, **** *****, *** regulations, *** **** ** ******* ** adopt ******/****** ** *** ******** - this ******* * "*** ** *********" in *** ***** ******, ** ***** companies ***** ** ** "** **** as ********" *** "**** *****."
**** ********* *** ********** ** **** alive (*** *******,*********** ** ******* ***** **** *** CEO), *** ******'* ****** *********** ** a ******** **** *** *** *******. It ******* ** ** **** **/**** Asylon *** **** *** ****** *** drastically ******** *** ****** ** ******** units, ******.
$5-10 ******* *** ****
****** ****** **** ** *** * $5-10 ******* *** **** *** ****, and *********** *** ****** **** *** their **** ******* **** ~$**,*** ** $107,000, **** ** * ******** ****.
*******, ***** ** *** ******* **** Asylon ********, *** *******'* *** ****** already ** ** **** *****. ******** that ****** *** ~** ******** *****, with **% ** ***** ***** ****** (~$90k ****** ****) *** **% ***** ground ****** (~$*** ****** ****), **** puts *** ******* ** ~$*.* ******* in ***:
**** **** *** ****** **** ****** provided ** **** ** **** *** different **** ***** **** *** ******* shared ** ****, **** * ********** decrease ** *** ***'* ****** **** ($107,000 *** **. $***,*** ** ****) and ** *** *****'* ***** ($**,*** vs $***,***).
2024 *********** *****
*** ******* **** **** **** **** are ******** ** **** * *** fundraising ***** ** ***** **** *** did *** ***** *** *********:
****** ** ******** ********* ** ********* and ***** ** ****** ** ***** 2024.
** ****** ** ******* ** ****, IPVM ******** **** *** *******'* ********* will **** *** **** ********* **** be ****** ** ******* *** *********, so ******* *********** **** ** **** with **** ****** **** **** ***** its ****** *****.
*** *******, *** *******'* ********* **** only *% ** *** **** ****, as******'* ******** *****:
Robotic ******** ********* ****** (****) *********
** ************ ***** **** ****,**** **** **** ***** **** *** company, ****** ********** *** ********* ** its ********** ****** *** *** ********** to * ***-**-**** ********-**-*****/***** *****, ** Asylon's *** **** ****:
[*] **** *** *** **** ******* that ****** *** *********** ** *** last ** ******?
[*] * ***** *** ********** ***robotic ******** ********** ******, *** ********* ** *** *** ** **** ** *** ******* ******. it's something that I would definitely highlight. That's no small feat of operating a 24/7 operations. [emphasis added]
**********, *** ******* **** *** * one-to-many ********-**-**** *****, *******, **** ************ to *** *******'* *******, *** "********* load" *** **** ** ** ******** decreased, ******** ** ** **** ********* being *********** *** **** ***** **************. Asylon **** **** **** ***** ********* is ** ** **** * ******/****** per ******** ** * *** ********.
** *** *** **** ** *** operations ******, ****** **** **** **** it *** "**-**" *********.
Drone, *** ************
** *** ******* ****, *** ******* highlighted *********** ************ ** *** ********** stack (***** ********* *** ********-**-*****/*** *****). More ******* *** ****** ** ****, as ****** ****** * *** ******* of *** ****** ***** *** ***-*** audio *** ******/******* ********* *** *** ground *****:
There's **** ****** ******** **** ****** *** ** *** ** *** ***** ***** **** ** *** ***** **** *** ***** **** ****. ... So we're gonna be really pumped to announce that and there *** * **** ** ********* ************ that end users are going to be able to leverage with that new *******. And so with regards to the ground based asset, there are some very exciting capabilities that have been released and that are continuing to be released. So two *** ***** ** * **** *******, obviously, our classifiers people and vehicle detection. [emphasis added]