OSI is among the investors in drone developer Animal Dynamics’ latest round, which will help it develop products based on aerodynamics from the animal kingdom.
Animal Dynamics, a UK-based unmanned aerial vehicle developer spun out from University of Oxford, has received £6m ($7.7m) in a series A round led by university venturing fund Oxford Sciences Innovation, the Telegraph has reported.
Venture capital firm Kindred Capital and investment firm Tanarra Capital both backed the round along with undisclosed additional investors.
Animal Dynamics is developing unmanned aerial vehicles that use motion technologies partly inspired by how creatures survive in the natural world. It is currently focused on developing a miniature drone with dragonfly-esque wings called Skeeter and an automated delivery drone known as Stork.
The series A capital will support Animal Dynamics’ product development and future growth ambitions.
Parkwalk Advisors, a fund management vehicle for commercialisation firm IP Group, injected an undisclosed amount of capital in Animal Dynamics in December 2017, after it had provided an unspecified amount of seed funding two years before through University of Oxford Isis Fund II.
University of Oxford Isis Fund II is managed by Parkwalk on behalf of the university, offering alumni and other private investors a route to back Oxford spinouts with tax benefits.
– Feature image courtesy of Animal Dynamics via Twitter.