SILICON VALLEY, Calif., July 11, 2019 (GLOBE NEWSWIRE) -- Yamaha Motor Ventures & Laboratory Silicon Valley (“YMVSV”), the strategic business development and investment arm of Yamaha Motor Co., Ltd. (“YMC”) (Tokyo: 7272), today announced it participated in the $16 Million Series A funding round for Exyn Technologies, developer of autonomous aerial robotics for GPS-denied environments. The investment is one of the first out of the $100 million Yamaha Motor Exploratory Fund (the “Fund”) established in 2018 and activated this year. The Exyn investment reflects YMVSV’s interest in developing innovation in the aviation sector.
“Advanced aerial autonomy technologies have broad impacts across industry sectors, making Exyn Technologies a very attractive exploratory investment for us,” said George Kellerman, CEO and Managing Director of YMVSV. “Aviation is one of five sectors of focus for YMVSV, with a specific interest in supporting innovative approaches that improve operational efficiency and safety. Exyn’s work in the field, particularly for GPS-denied environments, is extremely promising and we look forward to helping build upon its competitive advantage in the marketplace.”
“With our Series A funding complete, we can now focus on ways to fully leverage the world’s first industrial-grade autonomous aerial technology for dangerous and inaccessible environments,” said Nader Elm, CEO of Exyn Technologies. “Following the successful deployment of our solution in mining and defense industries, we see huge potential in our partnership with Yamaha Motor to expand the applications of our technology to new industries.”
About Exyn Technologies
Exyn Technologies (Exyn) is a world leader in the development of aerial and ground-based robot systems to autonomously navigate and collect data where maps and GPS do not exist. A spin-off of the prestigious GRASP Laboratory at the University of Pennsylvania, Exyn is commercializing core technologies in the area of self-piloting robotics for digitally starved industries with environments that are dangerous and inaccessible. Its platforms do not rely on human control, and their proprietary technology is built upon the fusion of multiple redundant sensors, mapping for obstacle avoidance, and independent planning. Exyn Technologies is VC backed and privately held with headquarters in Philadelphia, PA. Visit www.exyn.com to learn more.
About the Yamaha Motor Exploratory Fund
With a 10-year lifecycle, and focused on Seed to Series B investments, the Fund allows YMVSV to engage with startups in agile and collaborative ways not commonly associated with large multi-national corporations, and to foster open innovation, new partnerships and business development with YMC.
About the Yamaha Motor Ventures & Laboratory Silicon Valley
Yamaha Motor Ventures & Laboratory Silicon Valley is a wholly-owned subsidiary of YMC. Founded in 2015 in support of YMC’s long-term goal to contribute to society through business, YMVSV is headquartered in the home of innovation, Silicon Valley, Calif., with an office in Sydney, Australia. YMVSV manages the Fund among the business development resources it provides to startup companies to drive innovation forward in the fields of mobility, sustainability, robotics, food and agriculture, health and wellness, and aviation. For more information visit www.ymvsv.com.