Allocortech reports $6.67M sold in offering for drone avionics
Founders Brian Viele and Matthew Walker built the Virginia supplier to spare aircraft developers from integrating every control system themselves. A new Form D reports $6.67M sold under a larger offering, but does not specify the securities or identify the investors.
By RuntimeWire Staff · Published
Primary source: U.S. Securities and Exchange Commission
Why it matters
The Series A gives a small U.S. avionics maker substantially more capital to turn prototype integrations into repeat production programs, where inventory and qualification consume cash early.
Brian Viele and Matthew Walker's Allocortech has sold $6.67 million in a larger securities offering, according to a new SEC filing. The financing gives the Virginia avionics manufacturer substantially more capital than its earlier disclosed rounds.…