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Olee.space raises $3 Mn in seed round

EntrackrEntrackr · 23d ago
Olee.space raises $3 Mn in seed round
Medial

Olee.space, a laser-based communication and photonics defense system, has secured $3 million in a seed funding round from Rockstud Capital and other global investors. The fresh funds will be allocated towards scaling production, advancing its quantum-secure communication protocols, and expanding its defense tech roadmap, Olee.space said in a press release. Co-founded in 2023 by James Solomon and Suman Hiremath, Olee.space is a photonics and defense technology company that builds next-generation systems in Free-Space Optical Communication (FSOC), quantum-encrypted networking, and directed energy weapons. Its advanced solutions include resilient systems for terrestrial, inter-satellite, and ground-to-space links, designed for low latency, maximum security, and optimized data throughput. As per the Pune-based startup, Free-Space Optical Communication (FSOC) uses low-powered infrared laser beams to deliver ultra-fast, secure data links across land, air, sea, and space. Olee.space’s DEW platform, which is under development for anti-drone/UAV and anti-satellite operations, is designed to deliver precision tracking, real-time targeting, and neutralization of aerial threats. “I have always been fascinated by how lasers function. Working with light gives me happiness and I am here to do as much justice to this domain as any of my able team members. What we do here is rewarding to the country, and would continue doing so,” said James Solomon, founder and CEO of Olee.

Drone Swarms Are About to Change the Balance of Military Power

LivemintLivemint · 1y ago
Drone Swarms Are About to Change the Balance of Military Power
Medial

Drone technology has become increasingly pervasive on the modern battlefield, posing a potential shift in the global balance of military power. The low cost and simplicity of drones make them accessible and widely available, allowing for unconventional warfare strategies. However, the true potential of drones lies in their ability to be deployed in swarms directed by artificial intelligence (AI). The future of warfare will be determined by the systems of weapons driven by AI, rather than individual weapon systems. The winning side will be the one that develops the most advanced AI decision-making capabilities to outpace adversaries in a brain-on-brain conflict. The AI arms race will define the current era, and if placed in the wrong hands, AI dominance could become a tool of conquest.

Hydrogen Mem-Tech secures funding to expand clean hydrogen production

EntrackrEntrackr · 9m ago
Hydrogen Mem-Tech secures funding to expand clean hydrogen production
Medial

Hydrogen separation technology startup Hydrogen Mem-Tech has secured a strategic investment co-led by Peak Sustainability Ventures and London-based AP Ventures. This investment grants Peak a 10.5% ownership stake, positioning them as a vital partner in Hydrogen Mem-Tech’s global expansion and mission to advance sustainable energy solutions. The Norway-based Hydrogen Mem-Tech is supported by prominent climate investors, including Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and SINTEF. According to a press release, the funds will be used to scale operations, develop a new hydrogen separation unit with five times the current capacity, and accelerate green hydrogen production globally, with a particular focus on making the technology feasible for India’s energy sector. Founded in 2017, Hydrogen Mem-Tech aims to drive the green transition with its state-of-the-art hydrogen separation technology, integrated with carbon capture. The company's flagship product, Palladium Separators, is a patented technology that converts bio- and natural gases into pure hydrogen, catering to various applications, including fuel cells for vehicles and industrial processes. The technology enables the separation and purification of ultra-pure hydrogen for use in fuel cells in vehicles, heavy trucks, buses, trains, and ships. Samir Shah will join Hydrogen Mem-Tech’s board of directors. The company’s membrane-based separation technology provides an efficient solution for extracting hydrogen from various gas streams and green ammonia applications, offering significant cost and efficiency advantages. Hydrogen Mem-Tech asserts that its innovation will contribute substantially to achieving global sustainability goals. Peak Sustainability Ventures, a sustainability-focused venture capital fund, aims to support breakthrough innovations in sectors like new energy, water, food systems, and climate tech. Its portfolio includes companies like Indra Water, SustLabs, and Proeon.

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