The Canadian government is taking a new bet on a drone startup. But, why?
What’s happening:
- The Business Development Bank of Canada’s StrongNorth Fund has made a strategic equity investment into Alberta, Canada based unmanned aerial systems company Landing Zones
Why it matters:
- This is the first ever investment from The Business Development Bank of Canada’s StrongNorth Fund which was formed specifically to deploy capital into early stage companies founded in Canada that are focused on national security and military combat
Going deeper:
- Landing Zones has developed hardware for unmanned aerial systems that are capable of operating at stratospheric altitudes for long range missions and autonomously carrying diverse payloads
- The Business Development Bank of Canada’s StrongNorth Fund has $300M CAD in total committed capital and is part of the The Business Development Bank of Canada’s $6B CAD platform for national security
The fine print:
- The size of The Business Development Bank of Canada’s StrongNorth Fund into Landing Zones has not yet been publicly disclosed
