Internest, a Paris-based startup that provides autonomous technology and precise landing on fixed and mobile platforms for drones in harsh climatic conditions, has raised bridge fund investment in a pre-series A fund round from a leading European investment firm —Boundary Holding.
The bridge investment in Internest comes within months of it being recognized as one of the 40 most promising startups of STATION F. With the latest investment from Boundary Holding, the startup is looking forward to expanding its clientele and partnerships across various sectors –including logistics and transportation.
With an aim to create an embedded system that could be installed on the rotatory wing platforms to make their landings more secure, Internest has successfully developed a robust and precise positioning Local Landing System (LoLaS). The system uses a number of sensors on the rotatory wing platform as well as on the mother platform. The hardware framework of the system requires the installation of two sensors on the drones and four sensors on the mother platform. These sensors installed on drones and mother platform use ultrasound waves and radio technology to exchange signals for finding out the exact position of the drones so that the landing could be adjusted accordingly.
A couple of meetings between the founder of Boundary Holding, Rajat Khare, and the leadership of Internest in Paris resulted in the finalization of the investment deal. Commenting on the development, Rajat Khare stated, “The passion and commitment that Internest’s leadership possesses fascinated us the most. Their clear vision and ambition can be accredited for most of their success and achievements.”
What makes Internest’s LoLaS unique is how it uses ultrasound to provide reliable positioning and guidance precise to the centimeter. The idiosyncratic technology of Internest enabled the startup to help a significant number of its commercial customers across countries such as Sweden, Japan, the US, Germany, Singapore and Spain in developing safe landing systems for their rotatory wings in extreme environment and geographical conditions. Internest has also worked with global leaders such as Airbus, Nexter and Naval Group to integrate LoLaS into their platforms. The most recent one is the partnership of Musthane and Internest for the creation of secured landing solution for rotatory wings.
While speaking on the development, the spokesperson of Internest said that Boundary Holding infused the investment at a time when funds are not readily available and investors refrain from making investments. While appreciating the timings of the investment by Boundary Holding, he added, post the pandemic is over, the firm will utilize the funds to expand its business horizons.
Boundary Holding is a leading European Investment fund which actively invests in AI and deep tech. Last year, the firm made bridge investment in another French deep tech startup, Cerbair to help it move to next investment rounds. Other significant investments by Boundary Holding in Europe include last year’s investment in KONUX, a German railway analytics startup.