New Drone Software Company On The Nasdaq Soars In IPO Debut

A drone software company from Ukraine has officially made their Wall Street debut.

What’s happening:

• Swarmer (NASDAQ: SWMR) has successfully raised $15M USD in their IPO financing round and begun trading on the Nasdaq
  

Why it matters:‍

• Swarmer has developed proprietary software for drones that is hardware agnostic and enables large numbers of unmanned systems to coordinate and execute combat missions fully autonomously
  

Going deeper:‍

• Swarmer was initially founded in Ukraine and has been deployed in more than 100,000 individual combat missions
  
• The software platform developed by Swarmer is capable of providing autonomous navigation even in GPS denied environments and is used by the Ukrainian Armed Forces
  

The intrigue:‍

• Former Google (NASDAQ: GOOG) leader Eric Schmidt backed venture capital fund D3 Ventures is one of the early investors in Swarmer
  

Market reaction:‍

• Shares of Swarmer surged more than +500% in their first day of trading

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