US-based microlocation systems developer Humatics has closed an $18m series A round featuring aerospace and defence companies Airbus and Lockheed Martin, insurer Intact Financial Corporation and trading group Sumitomo.
The round was led by venture capital firm Fontinalis Partners and included VC firm Tectonic Ventures, VC fund Blue Ivy Ventures and angel investors Ray Stata and Andy Youmans.
The corporates took part in the round through subsidiaries Airbus Ventures, Lockheed Martin Ventures, Intact Ventures and Presidio Ventures.
Humatics has developed a microlocation system that uses radio-frequency technology to locate and track multiple targets moving up to 30 metres away with millimetre-scale accuracy. It will use the funding to further develop and commercialise its technology.
Airbus Ventures CEO Thomas d’Halluin said: “We see Humatics technology as no less than a tectonic shift in position and motion tracking. Its quantum leap in precision unlocks powerful potentials for a wealth of new applications – comparable to the first introduction of GPS.”