Sweden's Freya Industries raises $620K seed to scale drone detection across Europe
What's the deal? Freya Technologies ABDealroom has a profile for this one. Try Dealroom →, a Stockholm-based security and defence technology company, has raised 6,000,000 SEK (about $620,000) in an oversubscribed seed round. Foundry VenturesDealroom has a profile for this one. Try Dealroom →, Longswan Ventures, Propel CapitalDealroom has a profile for this one. Try Dealroom →, Saminvest ABDealroom has a profile for this one. Try Dealroom →, Schyssta Änglar, and startup accelerator StingDealroom has a profile for this one. Try Dealroom → all backed the deal, which closed in September.
What does it build? Freya makes connected sensors and software for detecting and responding to security threats. Its products span drone detection, personal protection devices, and infrastructure sensors, all linked through an analytics platform that gives a shared live view of sites and staff.
Why now? Demand is strongest for its lower-cost drone detection technology, which locates both a drone and its pilot using in-house AI models and several detection techniques. "Security companies get asked about drones every week, but detection has cost more than the problem," said co-founder Marcus Gustring.
What's the endgame? Freya already sells through security companies in five European countries. The new capital will go toward fulfilling customer orders, expanding the team, and supporting its European rollout.
The company positions cost as its edge. "The intelligence sits in the software, so they can be cheap enough to go everywhere, whether they protect a person or a site," said founder and chief executive officer Jonas Åström.
The signal: The round sits at the 23rd percentile by amount, a modest raise even by seed standards. But rising demand for affordable drone detection across Europe suggests a widening gap that startups like Freya are moving to fill.
Read more: arcticstartup.com
Image credit: Office of Naval Research
