Ondas Holdings' Airobotics Awarded ~$540,000 Grant From The Israel Innovation Authority To Further Advance Its AI-Based Counter-Drone System
Portfolio Pulse from Happy Mohamed
Ondas Holdings Inc. (NASDAQ:ONDS) has been awarded a grant of approximately $540,000 by the Israel Innovation Authority to support the development of its Iron Drone Raider counter-drone system, owned by its subsidiary Airobotics LTD. The system uses AI technologies to identify and intercept hostile drones and can be integrated into a variety of drone detection systems. The grant will fund a development program to enhance the system's capabilities for intercepting hostile drones in civil environments.
August 30, 2023 | 12:37 pm
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Ondas Holdings has received a significant grant to further develop its AI-based counter-drone system. This could potentially enhance the company's product portfolio and increase its market competitiveness.
The grant from the Israel Innovation Authority will allow Ondas Holdings to further develop its Iron Drone Raider system. This could potentially lead to an enhanced product offering, which could increase the company's competitiveness in the drone technology market. Therefore, this news is likely to have a positive impact on the company's stock in the short term.
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