Ascent AeroSystems

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

Jon Meringer - Chief Technology Officer

Nathan Meringer - Chief Engineer

Peter Fuchs - Chief Executive Officer

Co-Investors