Big information for Teal Drones, the corporate maybe most well-known for being based by a 16-year-old. Teal Drones introduced right this moment that it could be acquired by Red Cat Holdings, a publicly-traded firm that gives drone merchandise, applied sciences and providers.
Red Cat, which relies in Puerto Rico, acquired Teal in an all-stock transaction and can add Teal Drones to its present portfolio as an anchor of Red Cat’s enterprise group.
Red Cat beforehand had 4 working subsidiaries (now 5), together with well-known names like Fat Shark, which is maybe finest recognized for its position making FPV goggles for drone racing (although it additionally makes different merchandise like an all-in-the-box FPV drone racing kit. The portfolio additionally contains drone life-style and racing model Rotor Riot, distant inspection firm Skypersonic and Dronebox, an analytics platform for cloud-based flight intelligence.
That’s a fairly complete protection of your entire drone world — racing, life-style, knowledge analytics, inspections and extra. And with the extra of Teal, there’s an enterprise and army element to Red Cat, too.
“Adding Teal to the Red Cat household is a pure growth of the group deeper into the enterprise and authorities areas,” Jeff Thompson, CEO of Red Cat stated in a ready assertion. “Teal’s Golden Eagle drone platform and its present entry to the Department of Defense mixed with the market attain and expertise of Red Cat ought to well-position the joint group for unbridled success because the business grows.”
Teal was based again in 2015 by George Matus, a then sophomore in highschool who had obtained the acclaimed Thiel Fellowship. Within two years of its founding, then 18-year-old Matus launched his first product, the Teal drone, a modular gadget that promised to be the whole lot — a digicam drone, a racing drone, even an enterprise-grade drone.
The media ate it up, incomes dozens of accolades, together with a spot on Forbes’ 30 Under 30 listing. But the drone didn’t truly launch for one more two years in 2018 as the Teal One in a departure from the common platform thought. Though, Teal did individually Teal launch a pared-down model of the preliminary product introduced in 2016 by means of a racing-focused drone known as the Teal Sport, which offered for about $500.
Alas, neither drone actually took off as a lot as the unique media consideration could have led you to consider.
But that wasn’t the top of Teal. In truth, fairly the alternative. Teal made an enormous pivot, and in 2019, Teal was named considered one of six firms awarded a collective $11 million to design and construct drones that meet Army necessities. By 2020, thermal sensor-maker FLIR was making a dual sensor module for drones called Hadron — inbuilt shut partnership with none aside from Teal. And by summer time 2020, Teal launched a much more mature drone, the Teal Golden Eagle. That business drone platform designed for aerial surveillance included industrial-grade expertise prepared for many demanding aerial operations.
But nonetheless true to the preliminary conception at launch, Teal nonetheless has an open and modular platform, designed to permit a essential mass of purposes to be developed and built-in for next-generation capabilities.
Today, Teal’s drones are utilized by different main drone gamers together with Autonodyne, Tomahawk Robotics, Dronelink and Skyward.
And Teal expects to leverage Red Cat’s place to proceed to develop.
“With Red Cat’s operational experience and entry to capital, Teal is amazingly positioned to rebuild America’s drone industrial base throughout sectors,” stated George Matus, CEO of Teal in a ready assertion. “We are extremely excited to affix Red Cat as Golden Eagle scales manufacturing and additional purposes are launched.