Tuesday, April 23, 2019

Slingshot Aerospace Wins $6M Air Force Award

Los Angeles- and Austin-based Slingshot Aerospace, the venture-backed developer of artificial intelligence software for processing satellite, aerial, and drone imaging, said this morning that it has won a $6M contract award, from the Air Force Space and Missile Systems Center (SMC). According to the company, the award goes towards use of its software for "next-generation" space situational awareness and enterprise space battle management. Slingshot said it will rapidly prototype and deploy machine learning to help warfighters create a "more tactical, predictive, and evidence-driven" approach to situational awareness. Slingshot recently raised another $5M in seed funding, from such investors as ATX Venture Partners, Rise of the Rest Seed Fund, Okapi Capital, Stage Venture Partners, Sway Ventures and Techstars Ventures. The company's Los Angeles headquarters are in El Segundo.

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