SALT LAKE CITY, Feb. 8, 2021 /PRNewswire-PRWeb/ -- Teal Drones has accepted a multi-million-dollar investment package from Decathlon Capital Partners to fund the company's growth and finance continued research and development efforts.
The funding agreement comes as the innovative unmanned aerial systems company expands its product line and grows partnerships with the U.S. military and commercial enterprises for intelligence, surveillance, reconnaissance and public safety applications. Teal is focused on pioneering new uses for drone systems beyond the "flying camera" applications so often seen in use today. The development of complex air control, data processing and mapping technologies housed in rugged, high-performance drones allows Teal to transform how the military, public safety organizations and commercial enterprises operate.
Teal's signature product is the Golden Eagle, a secure, intelligent, rugged and high-performance drone system domestically produced to exacting U.S. defense industry standards. The U.S. production of the entire system is critical, as defense and other sensitive commercial drone technology applications either prohibit or discourage the use of internationally produced drones because of security and data concerns.
"As drone technology explodes in popularity, much of the focus has been on the hobbyist market," said George Matus, CEO and founder of Teal. "But as security, performance and commercial- and defense-grade computing power have unlocked transformational new uses of unmanned aerial systems, Teal is showing the industry-leading innovation that Teal technology, produced right here in the United States, can deliver to a wide range of markets."
Teal is leading U.S. drone technology into the future, where uses like search and rescue, defense and public safety are already supercharged by the Golden Eagle's next-generation capabilities. Now, with the drone's onboard supercomputing capabilities and powerful sensor technology, artificial intelligence and other emerging applications like multi-drone coordination are increasingly attainable.
Teal sought Decathlon Capital Partners funding as a way to secure the growth capital needed to continue scaling its drone technology without surrendering equity, as is typical in a venture capital or private equity agreement. Teal will repay the investment through future revenue, allowing the company to keep its ownership structure intact.
"Teal is a model of innovation and technological excellence," said Decathlon Capital Partners co-founder and managing partner Wayne Cantwell. "Their commitment to U.S.-made, highly secure drone technology has opened up a huge market with enterprises, defense organizations and public safety initiatives were data security and high-level technical performance is mission critical."
About Teal Drones
Teal was founded in 2014 by George Matus in Salt Lake City, Utah. Teal's purpose is to enable unmanned systems to be more than just flying cameras. With a strong team and a backbone of venture support, Teal is helping to rebuild America's sUAS industrial base to compete on a global scale. Learn more at https://tealdrones.com
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.
Billy McGuire, Teal Drones, 801-649-8351, [email protected]
SOURCE Teal Drones