Defense tech Theseus landed Y Combinator, the US Special Forces, and $4.3M from a tweet

The tech had clear potential to fight rampant GPS jamming of drones in Ukraine. As an alternative of GPS, drone operators there have to make use of high-tech goggles to information their drones by sight. However that results in a lot of issues, particularly underneath poor circumstances like thick fog or at evening.

On the finish of the hackathon, Schoeller wished his two teammates effectively and parted, hoping their paths would possibly cross once more. 

However the tweet went viral and altered their lives. A day later, the three determined to use to Y Combinator, efficiently stepping into its Spring 2024 cohort.

Now, their San Francisco-based firm, Theseus, has simply raised $4.3 million in seed funding in a spherical led by First Spherical Capital, with further backing from Y Combinator and Lux Capital, it solely advised TechCrunch.

Theseus joins a flock of different drone-related startups. There’s Skydio, which focuses on changing Chinese language drones for U.S. regulation enforcement and was last valued at $2.2 billion in 2023. Protect AI, which builds reconnaissance drones, lately raised at a $5.3 billion valuation. The most important protection tech participant, Anduril, launched its personal small drone final 12 months, and is reportedly in talks to raise at a $28 billion valuation.

Theseus says it doesn’t construct drones, however focuses on the {hardware} elements and software program that can allow just about any army drone to fly unmanned with out GPS. Schoeller, Theseus’ CEO, advised TechCrunch the corporate doesn’t construct focusing on techniques. Its software program isn’t deciding whether or not a sure spot is a authentic army goal or not — the only real focus is getting a drone from level A to B.

Theseus hasn’t gained any U.S. army offers but, and hasn’t been deployed in an precise battlefield. So it’s utilizing its contemporary capital to give attention to additional constructing out its tech, hiring for 3 engineering roles.

Nonetheless, the viral hackathon tweet did get Theseus observed by U.S. Particular Forces, which has entered into an settlement for early testing and improvement. Theseus says it lately went to a secret Particular Forces base to check out its newest system, sending TechCrunch a photograph of it in motion.

Total, beginning an organization with folks you’ve recognized for underneath every week “usually isn’t suggested,” however in Theseus’ case, it warranted the leap of religion, Schoeller wrote on LinkedIn.