Mentioned:
Autonomous drones are ramping up. And two publicly traded companies want to be on the leading edge of it.
What’s happening:
- Red Cat Holdings (NASDAQ: RCAT) and Palladyne AI (NASDAQ: PDYN) have successfully completed the first flight with multiple Teal drones manufactured by Red Cat Holdings using Palladyne AI’s software platform for autonomous flight
Why it matters:
- The new collaboration successfully validated that Teal drones were able to autonomously identify and track objects on the ground while being capable of sharing visual, audio and thermal data even in environments with very limited wireless connectivity through Palladyne AI’s software platform Pilot AI
Going deeper:
- Palladyne AI just recently struck a new deal with the United States Air Force focused on being able to put their Pilot AI software platform onto chips that are manufactured in America
- Red Cat Holdings has also been landing large deals around drone technology for military purposes, including a highly notable partnership with defense tech giant Palantir (NASDAQ: PLTR)
