Mentioned:
Red Cat Holdings is making a bet on something new: drone swarm software.
What’s happening:
- Red Cat Holdings (NASDAQ: RCAT) has officially acquired California based software company Apium Swarm Robotics
Why it matters:
- Apium Swarm Robotics has developed proprietary software and control systems to enable large amounts of drones and uncrewed surface vessels to operate together autonomously
Going deeper:
- Red Cat Holdings and Apium Swarm Robotics have previously successfully validated swarm missions together in demonstration flights for the United States Army
- Red Cat Holdings has been scaling up commercial contracts for their Black Widow drones lately, including previously winning a new purchase order from a Asia-Pacific ally for military use
The intrigue:
- Drone swarming technology has been a major theme on Wall Street lately, with Eric Schmidt backed Swarmer (NASDAQ: SWMR) just recently completing an IPO and beginning to trade on the Nasdaq
