MatrixSpace completes $20M Series B funding

BURLINGTON, Mass. — MatrixSpace, a provider of portable AI-enhanced radar counter drone sensing technology, has announced the completion of its $20 million Series B funding round.

This raise represents a significant valuation increase over the Series A of May 2023 and brings MatrixSpace’s total funding to date to $58 million. The completion of this round also introduces meaningful new investors, including L3Harris, to the MatrixSpace team.

The round was co-led by The Raptor Group and OTB Ventures. The Raptor Group is a Boston-based venture and growth fund investing in deep technology across a variety of industries. OTB Ventures is a European investor focused on dual-use defense and enterprise technology, with deep ties to both European industry and NATO. 

“We’re proud to welcome new investors OTB Ventures and industry powerhouse L3 Harris to MatrixSpace, along with the robust engagement of our existing investors. This new capital and industry partnerships position us extremely well for our next chapter of growth and cements our leadership in portable CUAS, or counter drone systems,” comments Gregory Waters, co-founder and CEO of MatrixSpace.

MatrixSpace Radar delivers AI-powered situational awareness in all conditions, including low-light and low-visibility. With leadership AI Edge and Cloud software for real-time classification, history, and predication capabilities organizations can create safe airspace rapidly and robustly.

"By combining advanced radar and AI at the edge, MatrixSpace sets a new standard for edge sensing, redefining situational awareness for both civil and defense applications. We’re proud to back the team shaping how autonomous systems will perceive the world,” comments Marcin Hejka, the co-founder and General Partner of OTB Ventures.