Five drone startups receive millions in COVID-19 relief investment from US Government

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The US Government has used the Coronavirus Aid, Relief, and Economic Security (CARES) Act in order to provide financial security to five drone startups.

The amount invested in the five companies came to a total of $13.4 million (£10.7 million).

The companies in question were Graffiti Enterprises, Obsidian Sensors, AirMap, Skydio and ModalAI. Skydio was given the largest investment of the five.

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This was part of a wider spend on the part of the US Government, which saw $84 million (£67.1 million) pumped into the drone, space tech and shipbuilding industries.

A Department of Defence statement said: “As part of the national response to COVID-19, and to support the domestic small unmanned aerial system (sUAS) industrial base, the Department of Defence awarded contracts totaling $13.4M to five companies to sustain the capabilities of this critical domestic industrial base.”

This is thought to be the US Government’s latest move in distancing itself from DJI drones, with the investment potentially aiding the development of alternatives to the Chinese company’s products.

It follows an even greater investment last month, totaling $100 million (£79.9 million), in GE Aviation and Spirit AeroSystems.

Tags : Department of DefenseSkydious government
Sam Lewis

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