Dutch unmanned aerial systems company Destinus is set to acquire Zurich-based Daedalean, a maker of AI-powered autopilot systems, in a deal worth 180 million Swiss francs ($222.6 million).
The deal, expected to be signed by the end of 2025, will expand Destinus’s AI capabilities for kamikaze drones and hypersonic aircraft, Bloomberg reported.
Launched in 2021, Destinus has raised more than 200 million euros ($231.5 million) in funding to date and is now in talks with investors for a new funding round that could push its value up to 1.5 billion euros ($1.7 billion).
Read the full story on our new publication, Military AI: Destinus Plans Buyout of Swiss AI Tech Firm Daedalean in Bid for GPS-Free Drones
