- The Australia-based company DroneShield will deliver the order which includes several different types of DroneShield counterdrone/C-UAS equipment by mid-2023
- The company secured a $3.7 million investment in November last year, from Epirus Inc.
Australia-based counter-drone solutions provider DroneShield recently announced that it received a new purchase order for around $11 million from a government agency customer.
The order includes several different types of DroneShield counterdrone/C-UAS equipment and is expected to be delivered by mid-2023, subject to receiving relevant export approvals. The company estimates that the proceeds will be received across March and June 2023 quarters. Interestingly, it is the second order within a month following another $11 million purchase order received from a different government in December 2022.
DroneShield CEO, Oleg Vornik stated: “As we move into repeat $10 million+ orders, DroneShield has arrived at its inflexion point. Importantly, this order does not require working capital, due to the payment structure from the customer. Our processes are scaled up and ready for this step change in the supply chain, production and deployment. Like with the other $11 million order received last month, the purchase contains an annual subscription component, as we move to annual recurring revenues becoming a meaningful part of our business.”
Notably, this order follows other recent wins for the company in the last few months. It includes recommendations by the Joint Counter-small Unmanned Aircraft Systems Office (JCO) as part of the SAIC Team’s offering for the deployment of its Counter-UAS as a Service across the US Department of Defense (DoD).
With the announcement, DroneShield pointed out that the company equipment has been deployed for Brazil’s presidential inauguration, demonstrating high profile use of its systems.
It must be noted that the company secured a $3.7 million investment in November last year, from Epirus Inc, a high-growth U.S. defence technology company developing software-defined directed energy systems.
DroneShield aims to provide artificial intelligence (AI) based platforms for protection against advanced threats such as drones and autonomous systems. It offers counter-drone (or counter-UAS) and electronic warfare solutions and off-the-shelf products for terrestrial, maritime or airborne platforms to the military, intelligence community, government, law enforcement, critical infrastructure, and airports globally.