Aria Insights, the US-based unmanned aerial vehicle producer backed by communications technology provider Motorola Solutions and logistics firm UPS, has ceased operations, Dronelife has reported.
Founded in 2008 and formerly known as CyPhy Works, Aria Insights built aerial drones for use in industries such as defence, natural resources management, agriculture, law enforcement and entertainment.
The company relaunched earlier this year to focus on the data being collected and stored in the drones rather than just the hardware, and had raised more than $46m in funding altogether, according to press releases and regulatory filings.
Aria closed a $22m series B round in 2015 that was led by venture capital firm Bessemer Venture Partners and backed by Motorola Venture Solutions and UPS Strategic Enterprise Fund, respective subsidiaries of Motorola Solutions and UPS, as well as Draper Nexus, Lux Capital and General Catalyst.
Motorola Venture Solutions had made a $2.5m investment in CyPhy earlier in the year, through what a regulatory filing indicates was likely convertible debt.
The company had previously raised a total of $10m over three rounds, which included commitments from Lux Capital, Felicis Ventures, General Catalyst and several unnamed angel investors, and it added a total of $9.7m in June and July 2018 according to securities filings.