ModalAI, Inc.
Classification
Private
Financials
Revenue & Profit
Valuation
Ratios
People
Deals
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
Funding
About
About
ModalAI, Inc., founded in 2018 (spun out of Qualcomm's robotics R&D), is a San Diego, California-based company that develops autonomy, perception, and communications systems for drones (sUAS) and robotics. Their focus is on "smaller, smarter, safer" autonomous systems, especially those that work in constrained or challenging environments (indoor, GPS-denied, etc.). Their offerings include both hardware and software: onboard AI companion computers/flight controllers, modular communication hardware, sensors, and also complete drones/development kits. These are built and assembled in the USA. ModalAI supports open architectures (e.g., PX4, ArduPilot, ROS) and designs for regulatory compliance (e.g., NDAA, Blue UAS cleared components) to serve both commercial, government, and R&D customers. They also provide custom and end-to-end design services, plug-and-play platforms, and reference/drone developer kits to accelerate development cycles. Product / Service Line Breakdown 1. VOXL Autopilot & Compute Platforms - VOXL 2: a next-generation Blue UAS Framework AI companion computer & flight controller (combined), powered by Qualcomm Flight RB5 / QRB5165, ~15+ TOPS, multiple sensor inputs, weighs ~16g. - VOXL 2 Mini: a smaller, ultra-mini SWaP-optimized version. - Other VOXL variants (e.g., VOXL Flight, VOXL Flight Deck, etc.) and modules expanding connectivity, add-ons, and SDK support. 2. Development Drone Kits / Reference Platforms - Starling 2: indoor SLAM/navigation platform with VOXL 2, suited for inspection, mapping, etc. - Starling 2 Max: similar platform for outdoor, longer flight time, and greater payload. - PX4 Autonomy Developer Kit: drone platform to enable developers to build on standard autonomy stacks. 3. FPV / Blue UAS Cleared Drones - Stinger Vision FPV: compact FPV drone cleared under Blue UAS, for applications needing low latency video, safer flight & imaging. - Seeker Vision FPV: another FPV / vision system drone under Blue UAS cleared. 4. Sensors, Communications, and Accessory Hardware - Image sensors: both for vision, FPV, low light, etc. - Modems / Communication modules: 4G, 5G, LTE, WiFi, Microhard, etc. - ESCs (electronic speed controllers), antennas, cables, expansion boards, etc. 5. Software & SDK / Tools - VOXL SDK: supports open source software frameworks like PX4, ArduPilot, ROS1/2, OpenCV, Docker, etc.; tools for vision (obstacle avoidance, VIO, SLAM) and communications. - Reference designs, documentation, and quickstarts for developers. 6. Services / Custom Engineering - Custom design / end-to-end design services (consulting, integration) for businesses needing tailored autonomy, navigation, perception, and comms solutions. - Turnkey platforms or reference systems to accelerate prototyping and reduce R&D lead time.
Keywords
Keywords
Classified
Private