Mentioned:
Two American drone companies are making a bet on a publicly traded company on the Nasdaq. But, why?
What’s happening:
- Safe Pro Group (NASDAQ: SPAI) has successfully raised $8M USD in a new equity financing round
- The new funding round was led by Unusual Machines (NYSE: UMAC) and Ondas Holdings (NASDAQ: ONDS)
By the numbers:
- Safe Pro Group issued 2M common shares at $4.00 USD per share and 2M warrants at $6.00 USD per share as part of the financing
Why it matters:
- This is the first time ever that Ondas Holdings and Unusual Machines have co-invested in a company together
Going deeper:
- Safe Pro Group’s artificial intelligence technology for drones to be able to rapidly detect landmines has been making waves lately, including notably integrating their proprietary technology into drone platforms selected by the United States Army Short Range Reconnaissance Program
