WASHINGTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Air Space Intelligence (ASI), a modern aerospace company addressing the software crisis across commercial and government sectors, announces the completion of a $34 million Series B funding round. This significant financial injection, achieved in less than three weeks, reflects strong support from new investor Andreessen Horowitz (a16z) and existing investors, including Bloomberg Beta, Renegade Partners, and Spark Capital. The allocated funds will strategically support the company's continuous growth, foster innovation, and solidify its presence in the government sector.
“Over the past three years, ASI has made significant progress by deploying their software to some of the most complex and critical air operations,” stated David Ulevitch, General Partner at a16z. “ASI started to change how some of the largest airlines operate in the National Airspace System, and the company is now gaining traction with the DoD. We are impressed both by their execution and by the opportunity ASI has to address the software crisis in aerospace and defense.”
ASI pioneers the development of AI-powered air operations systems to monitor and optimize flights, offering a decision advantage from the air operation center to the dynamic environment of the flight deck. The company is committed to rendering the National Airspace System (NAS) secure, safer, and more efficient for all stakeholders. ASI's capability to rapidly field and operationalize mission-critical functionalities sets it apart in an era where legacy systems are faltering and struggling to scale to support new levels of operational complexity.
Having demonstrated operational success with Alaska Airlines and other major U.S. network carriers, ASI is now also making significant strides in the government sector, as evidenced by the capture of three contracts with the U.S. Air Force in the past four months.
“The government contracting journey has been nothing short of remarkable. ASI's commitment to efficiency and innovation shines through, and we're honored by the mission focus and swift processes led by our government partners,” said Bernard Asare, Vice President of Business Development. “This Series B funding serves as a testament to our shared vision for advancing aerospace software solutions.”
ASI will expand operations in Washington, DC, to enhance its capabilities further, strengthening its proximity to enterprise and national security stakeholders while increasing government engineering and deployment teams. ASI aims to support the DoD in modernizing and adopting AI-powered aerospace software systems to achieve optimal mission outcomes.
“There is a high degree of urgency to advance air operation systems across the U.S. and its allied forces,” shared CEO and co-founder Phillip Buckendorf. “ASI has consistently been a company that moves swiftly, and now, with the infusion of new funding, we can accelerate even further in serving our airline and government partners.”
About Air Space Intelligence
Air Space Intelligence (ASI) is a software-first aerospace company partnering with US and allied government agencies and major airlines. ASI’s Flyways AI Platform equips the operator with the toolset to accurately predict and autonomously monitor the operational environment, enabling a perpetual and precise decision-making cycle yielding successful air operation outcomes in the world’s most challenging and dynamic environments.
About Andreessen Horowitz
Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. We are stage agnostic. We invest in seed to venture to growth-stage technology companies across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism. a16z has $35B in assets under management across multiple funds.
Contact
Katie Duckhorn
airspaceintelligence@bulleitgroup.com
