MOROCCO – Atlan Space, a startup which enables networks of aerial vehicles, has raised US$1.1 million (MAD 10 million) for its Series A funding round from Maroc Numeric Fund II, with participation from Hilmi Law Firm and Cadex Group, to enable it to expand its business.
The aerial vehicles (such as drones, etc.) are guided by artificial intelligence (AI) to scan large marine areas for environment threats.
Launched in 2016 by Younes Moumen and Badr Idrissi, ATLAN Space enables unmanned aerial vehicles (UAVs) to carry out tracking missions with complete autonomy. Through its technology, the platform helps governments and institutions fight environmental crime and assist vulnerable populations.
“ATLAN Space is developing artificial intelligence to enable UAVs to carry out tracking missions in total autonomy and without human intervention. This is for humanitarian purposes or to fight environmental crimes such as illegal fishing or deforestation,” said Badr Idrissi, CEO of ATLAN Space.
“This is for humanitarian purposes or to fight environmental crimes such as illegal fishing or deforestation.”
This is the 2nd successful fundraiser after the seed 2019 fundraiser from the Norwegian investment fund Katapult Ocean.
“The fund management team is proud to support ATLAN Space, a Moroccan startup that is the result of many years of R&D in artificial intelligence, and which has a proven technology with several clients internationally and in Morocco, with a high environmental and humanitarian impact,” said Dounia Boumehdi, managing director at MITC Capital, the management company of Maroc Numeric Fund II.
This is the 3rd investment of the new fund Maroc Numeric Fund II and the 20th investment of its management team, taking into account the investments made by the fund Maroc Numeric Fund I, which is now in a divestment phase.
Maroc Numeric Fund is since 2010, the reference investment fund in technology startups in Morocco. More than a simple financial leverage, Maroc Numeric Fund is a real accelerator for high-potential start-ups.
The Fund acts as an active shareholder by providing its portfolio companies, in addition to investment, with advisory and support for their managers, while holding a seat on their boards. ATLAN Space has commercial contracts in the Seychelles, Niger, and Morocco.
The startup received the “African Entrepreneurship Award” innovation prize in 2017 and was ranked among the 10 best AI startups in Europe in 2018 by Nvidia. The startup has already completed its first round of Seed funding in 2019 with investment from Norway’s Katapult Ocean Fund.
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