On February 18, 2024, Ian Laffey posted on X that he and two others he’d simply met constructed an affordable drone at a hackathon that calculated its coordinates just by utilizing its digital camera and Google Maps. He and his colleagues, Sacha Lévy and Carl Schoeller, have been all engineers beneath the age of 25.
The tech had clear potential to fight rampant GPS jamming of drones in Ukraine. As a substitute of GPS, drone operators there have to make use of high-tech goggles to information their drones by sight. However that results in numerous issues, particularly beneath poor situations like thick fog or at evening.
On the finish of the hackathon, Schoeller wished his two teammates properly and parted, hoping their paths would possibly cross once more.
However the tweet went viral and adjusted their lives. A day later, the three determined to use to Y Combinator, efficiently moving into its Spring 2024 cohort.
Now, their San Francisco-based firm, Theseus, has simply raised $4.3 million in seed funding in a spherical led by First Spherical Capital, with further backing from Y Combinator and Lux Capital, it completely advised TechCrunch.
Theseus joins a flock of different drone-related startups. There’s Skydio, which focuses on changing Chinese language drones for U.S. regulation enforcement and was final valued at $2.2 billion in 2023. Protect AI, which builds reconnaissance drones, not too long ago raised at a $5.3 billion valuation. The largest protection tech participant, Anduril, launched its personal small drone final 12 months, and is reportedly in talks to lift at a $28 billion valuation.
Theseus says it doesn’t construct drones, however focuses on the {hardware} elements and software program that can allow just about any army drone to fly unmanned with out GPS. Schoeller, Theseus’ CEO, advised TechCrunch the corporate doesn’t construct concentrating on techniques. Its software program isn’t deciding whether or not a sure spot is a reputable army goal or not — the only focus is getting a drone from level A to B.
Theseus hasn’t gained any U.S. army offers but, and hasn’t been deployed in an precise battlefield. So it’s utilizing its recent capital to give attention to additional constructing out its tech, hiring for 3 engineering roles.
Nonetheless, the viral hackathon tweet did get Theseus observed by U.S. Particular Forces, which has entered into an settlement for early testing and growth. Theseus says it not too long ago went to a secret Particular Forces base to check out its newest system, sending TechCrunch a photograph of it in motion.
Total, beginning an organization with individuals you’ve recognized for beneath every week “typically isn’t suggested,” however in Theseus’ case, it warranted the leap of religion, Schoeller wrote on LinkedIn.
