Ascent AeroSystems

The Humvee of Drones

Company Information

Website:

https://www.ascentaerosystems.com

Sector:

Drones

Location:

Wilmington, MA

Between civilian and military applications, drones are projected to become a $200 billion market within the next 10 years.

But there’s a problem: most drones can’t fly whenever or wherever they’re needed. Companies demonstrate their drones in controlled tests. But when these machines need to operate outside of these environments — in the “real world” — they often fail.

Ascent AeroSystems has created a drone that withstands the elements. Its high-performance unmanned aerial vehicles (UAVs) are specifically designed to work in harsh environments.

Ascent markets its drones as having “the rugged flexibility of a Humvee, the efficiency of a Prius, and the performance of a Ferrari.”

These drones are compact (easier to transport when needed); rugged (can withstand harsh environments and weather); efficient (fly faster, farther, and longer than traditional drones); and versatile (a modular design makes it easy to configure to specific tasks).

Ascent has found solid market fit in the defense industry. It has four contracts with the Department of Defense, and its revenue increased from $1.8 million in 2019 to $2.5 million in 2020.

Now Ascent is seeking capital to expand to the public safety and industrial markets.

Team Background

Peter Fuchs - Chief Executive Officer
Nathan Meringer - Chief Engineer
Jon Meringer - Chief Technology Officer
Raising
$1.07 million
Committed
$20K (2%)
Current Valuation
$50 million Cap / 0% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
  • $406K
    2015-06-15
    Unknown
    (Crowdfunding)
  • $600K
    2017-03-15
    Unknown
    (Seed)
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