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We are pleased to announce OTB Ventures’ investment in MatrixSpace’s $20 million Series B round, which we co-led alongside Raptor Group. L3 Harris, a key customer, also joined as a strategic investor, providing validation through real-world deployments and deep industry feedback.
MatrixSpace is redefining radar for the AI era. Its AI-powered, software-defined, portable radar systems deliver real-time situational awareness for defense, infrastructure, and smart-city applications. The company’s standardized hardware platform and advanced AI stack achieve unprecedented performance at disruptive SWaP-C (Size, Weight, Power and Cost) levels, enabling radar deployments on drones, vehicles, and mobile units that were previously impossible.
A Founding Team Built for Deep-Tech Execution
MatrixSpace is led by Greg Waters, former CEO of Integrated Device Technology (acquired by Renesas for $6.7 billion). He has assembled a world-class team of veterans from Raytheon, Motorola, Skyworks, Dell, and leading radar research institutions, collectively bringing more than a century of combined expertise across RF engineering, semiconductors, and AI.
This technical depth has enabled the company to integrate advanced signal processing, AI inference, and semiconductor innovation into a compact, deployable product, a feature long considered out of reach.
The Market Imperative: Intelligent Radar for a Changing Threat Landscape
The proliferation of low-cost drones, asymmetric threats, and distributed infrastructure has exposed major sensing blind spots across both defense and civilian domains.
Existing sensor systems, optical, infrared, or legacy radar, remain bulky, expensive, and limited by weather or lighting conditions. Most importantly, they have not incorporated modern AI, leaving operators unable to detect or classify small or silent targets at the edge in real time.
MatrixSpace addresses this gap head-on, re-engineering radar from first principles to be compact, intelligent, networked, and weather-agnostic.
Technology Edge: Reinventing Radar for the AI Era
MatrixSpace’s platform combines a custom-built RF front-end with on-device AI that processes and classifies signals locally. Multiple units interconnect into a wireless, self-healing mesh, fusing radar and optical data to produce a dynamic 4D map (range, bearing, velocity, altitude) of the environment.
Three core innovations define its technological moat:
As the installed base grows, each radar contributes new data back into MatrixSpace’s learning models, continuously refining accuracy and reinforcing the company’s data and AI moat.
Commercial Traction and Real-World Validation
MatrixSpace’s systems are already operational with the U.S. Air Force, L3 Harris, and multiple U.S. cities.
In Palm Springs, its radar network powers one of the world’s first Drone-as-First-Responder programs, autonomously monitoring 37 square miles of airspace and materially reducing emergency response times. The system has demonstrated reliable detection across varied weather and lighting conditions.
Strategic Outlook
The capital raised in this round will support the rollout of its Gen2 radar platform, extending range and integrating advanced AI modules for multi-sensor fusion and classification. This will enable wider adoption across defense and civilian markets and strengthen MatrixSpace’s position as a core sensing provider for critical infrastructure and urban safety. With a growing customer base in the U.S. and strong strategic partnerships, MatrixSpace is now preparing to enter European markets. It will leverage OTB’s network and defense ecosystem to expand across NATO and EU-aligned countries.
Each deployment strengthens the platform: every radar learns, improving detection precision and accelerating global rollout.
Learn more about MatrixSpace: https://www.matrixspace.com/
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