ATX Seed Ventures leads $3.25 Million Seed Round into Slingshot Aerospace to Use Satellite, Aircraft and Drone Data to Solve Geospatial Information Challenges

Dec. 12, 2017

ATX Seed Ventures announces today that it has led a $3.25M Series Seed funding in Slingshot Aerospace, a company utilizing artificial intelligence (AI) to provide repeatable solutions to geospatial information challenges for industries such as defense, insurance and energy. Participating in the seed round were Okapi Venture Capital and Sway Ventures, along with Stage and NoName Ventures.  Slingshot Aerospace plans to use this capital to build upon its early success by unlocking insights gained from satellite imaging, drones and aircraft.

Slingshot Aerospace, a cutting-edge leader in providing the next generation of signal processing AI, allows customers worldwide to make valuable decisions utilizing Earth Observation data, the world's largest untapped data source, and other ancillary data sources. The company significantly improves the value of data its customers consume, allowing them to gain competitive advantage while reducing risk and cost. Slingshot Aerospace transforms imagery and other data into unique customer insights at a frequency and scale not possible before.

"The amount of data gathered by satellites, aircraft, and drones is accelerating exponentially. Turning that into profound, useful insights via Artificial Intelligence is one of the largest market opportunities of the decade," said Christopher Shonk, founder of ATX Seed Ventures. "We are thrilled to work with this experienced management team and, having spoken to current and potential customers, we maintain a strong outlook for Slingshot Aerospace to lead the market."

The Slingshot team was recently enlisted by BAE Systems and Team Rubicon during Hurricanes Harvey and Irma, to analyze flooding severity as well as to identify the safest possible escape routes and staging areas. In a matter of hours, using their leading technology, Slingshot provided analytical intelligence and support to the in-situation relief teams allowing them to efficiently get help faster to those in need.

"Slingshot's capabilities are not limited to specific industries, but are built to enable our team to innovate, build and deploy ready-to-use solutions rapidly.  This gives Slingshot an unfair advantage in solving high-value problems for our customers in a more timely and accurate way than our competition," said David Godwin, CEO of Slingshot. "This round will enable Slingshot to press our advantage to be the first place defense and commercial senior decision makers look for assessing risk, monitoring change or evaluating opportunity around assets worldwide."