Friday, April 8, 2016 5:02:00 AM PDT | VentureDeal
Santa Monica, California -- Drone technology company AirMap has received $50 million in its first round of institutional venture capital funding.
AirMap is developing low altitude air navigation systems for drones. General Catalyst Partners led the round which included Lux Capital, Social Capital, TenOneTen Ventures, Bullpen Capital and Pritzker Group Venture Capital. The company said it would use the funding to continue developing its suite of airspace management tools for drones. CEO Ben Marcus co-founded the company in January 2015.
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