Penn spinout Exyn Technologies has closed a $16m series A round backed by IP Group to accelerate the development of its AI software for drones.

Exyn Technologies, a US-based drone technology spinout of University of Pennsylvania (Penn), closed a $16m series A round on Friday backed by commercialisation firm IP Group, according to Technically Philly. Investment firm Centricus led the round, which also featured Yamaha Motor Ventures, the corporate venturing arm of motorcycle manufacturer Yamaha Motor, and In-Q-Tel, the investment…

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