# Echodyne

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/echodyne

- Industry: Consumer Products
- Headquarters: Kirkland, US
- Website: www.echodyne.com
- Total disclosed funding: $193M
- Latest round: Series C (May 10, 2022)
- Investors on record: 8

## About

Echodyne Corp. specializes in advanced radar solutions, leveraging their MESA technology to provide efficient and effective situational awareness for defense, government, and commercial sectors worldwide.Founded in 2014 in Kirkland, US, Echodyne Corp. develops innovative radar systems based on MESA (Micro-Electro-Mechanical Systems) technology. The company has successfully raised USD 129.30 mn through 5 funding rounds, with the latest being a Series C round led by Baillie Gifford and other notable investors, reflecting its strong market position. The CEO and co-founder, Eben Frankenberg, has been instrumental in the company's growth along with co-founder Tom Driscoll.Echodyne Corp. primarily offers advanced radar solutions utilizing their innovative MESA radar technology. This technology employs a unique arrangement of common materials to accurately steer radar energy without relying on phase shifters or moving parts, resulting in a low size, weight, power, and cost (SWaP-C) profile. Their MESA radars are notable for their commercial exportability and are utilized in various applications including defense, government, and commercial sectors. End users include military organizations, law enforcement agencies, and commercial businesses requiring enhanced situational awareness for operations such as drone detection, border security, and asset protection. The products are marketed primarily in North America, Europe, and expanding markets in Asia and the Middle East, catering to clients looking for reliable and efficient radar technology.Echodyne's revenue model is structured around direct sales of their radar systems and associated software solutions to a diverse client base, including defense contractors and government entities. Transactions typically involve customized agreements that cater to specific mission requirements, with clients purchasing radar systems like the EchoShield, EchoGuard, and EchoFlight as part of larger defense and security frameworks. Each sale is complemented by ongoing software support and maintenance, which enhances the functionality of the radar systems over their lifecycle. The pricing structure reflects the complex nature of the technology, where clients may engage in one-time purchases for hardware alongside recurring fees for software updates and technical support, ensuring that they receive continual performance enhancements and operational excellence.Echodyne Corp. is focused on expanding its product line and exploring new market opportunities. The company is designing upcoming radar systems tailored for new applications, with an expected release in the next 12 months. Expansion efforts are targeted towards specific markets in Asia and the Middle East, leveraging recent funding from the Series C round to support these initiatives. The investment aims to enhance R&D capabilities and facilitate market entry strategies to increase the company's global footprint.

## Funding rounds

- Series C, May 10, 2022, $129M — New Enterprise Associates, Madrona Venture Group, Baillie Gifford, Vulcan, Vanedge Capital, Northrop Grumman
- Series B, Sep 11, 2019, $20M — New Enterprise Associates, Madrona Venture Group, Lux Capital, Vulcan, Vanedge Capital
- Series B, May 8, 2017, $29M — New Enterprise Associates, Kresge Foundation, Madrona Venture Group, Lux Capital, Vulcan
- Series A, Dec 8, 2014, $15M — Kresge Foundation, Madrona Venture Group, Lux Capital, Vulcan

## Investors

- Kresge Foundation — Series A, Series B
- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Series A, Series B, Series C
- Lux Capital (https://capitalatlas.ai/funds/lux-capital) — Series A, Series B
- Vulcan (https://capitalatlas.ai/funds/vulcan) — Series A, Series B, Series C
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B, Series C
- Vanedge Capital (https://capitalatlas.ai/funds/vanedge-capital) — Series B, Series C
- Baillie Gifford (https://capitalatlas.ai/funds/baillie-gifford) — Series C
- Northrop Grumman — Series C