US-based microwave technology developer Epirus raised $70m yesterday in a series B round that included defence equipment and IT services provider L3Harris Technologies.
Investment firm Bedrock Capital led the round, which also featured Piedmont Capital Investments, 8VC, Fathom VC and Greenspring Associates. The company said 8VC had led a series A round it closed at $17.4m in November 2019.
Epirus is working on microwave technology for the defence sector and is supplying its electromagnetic pulse technology for a counter-drone system being developed by aerospace and military equipment maker Northrop Grumman that is slated for release in 2021.
Leigh Madden, chief executive of Epirus, said: “Epirus is looking forward to bringing next generation products to market that optimise power so we can enable our customers to save lives, counter asymmetric threats and support the missions of the US and our allies.”