U.K.-based RAD announced today the close of a $5.9 million funding round for the company’s next phase of growth, including the development of advanced electric propulsion systems and autonomous technologies for defense and commercial applications.
“Autonomous marine systems are moving rapidly from concept to deployment, and the response to our Axon launch confirmed that RAD is well-placed to capture this opportunity,” Rich Daltry, RAD co-CEO and founder, said in a statement. “We believe the industry is moving towards open, flexible vessel architectures that allow systems, autonomy software and mission applications to evolve independently. This funding gives us the runway to scale commercially, grow our electric propulsion systems portfolio, and expand into key international markets.”
Added Ruth Coleman, investment manager at Mercia Ventures, which led the funding round: “We watched electrification reshape road transport over the last decade. Marine is about to go through the same shift, and RAD is building the platform for it for manned and autonomous vessels alike.”
