Ondas Holdings brings in $217M from underwritten offering

The Optimus System is designed to enable on-demand aerial data operations in complex environments. | Source: Ondas Holdings

Ondas Holdings Inc., a provider of autonomous aerial and ground systems, last week closed its underwritten offering of 46 million shares of its common stock. The company estimated that it brought in $217 million from the offering, after deducting underwriting discounts, commissions, and estimated offering expenses.

With the proceeds, Ondas said it plans to invest in corporate development and strategic growth, including acquisitions, joint ventures, and investments. The Waltham, Mass.-based company last month closed an underwritten public offering of $163 million and acquired a majority stake in Israeli electro-optics manufacturer S.P.O. Smart Precision Optics Ltd.

Ondas Holdings sells robots, drones, and networking technology through its Ondas Autonomous Systems (OAS) and Ondas Networks units. It serves a variety of industries, including rail, energy, public safety, critical infrastructure, and government markets.

More about the autonomy, networking units

OAS designs, develops, and markets commercial drone and ground systems. Its brands include Airobotics, American Robotics, Iron Drone, and Apeiro Motion.

Through Airobotics and American Robotics, OAS offers the Optimus System, which it claimed can capture data fully autonomously. This enables customers to analyze infrastructure for round-the-clock drone operations without human intervention.

With its robotic arm, Optimus can swap its own batteries and payload, enabling continuous multi-function operations in urban and other complex environments.

Through Iron Drone, OAS offers the Iron Drone System, a fully autonomous counter-drone system. The company said designed Iron Drone to defend assets against hostile drones in complex environments with minimal collateral damage and without using GPS or radio frequency (RF) jamming.

In addition, OAS offers ground robotics and tethered UAV systems through Aperio Motion, which it also acquired last month. The company’s platforms feature GPS-independent navigation, fiber-optic micro-spool tether technology enabling high-endurance missions, and integrated autonomy software.

Through Ondas Networks, the company offers FullMAX software-defined radio connectivity. It claimed that this allows it to deploy intelligent systems across a range of industrial applications. The platform can maximize data capacity, efficiently allocate bandwidth, and prioritize mission-critical applications. Siemens recently partnered with Ondas to deliver network systems geared toward the IEEE 802.16 wireless standard to customers, including BNSF and CSX.

Ondas Capital to accelerate drone deployments

Earlier this month, Ondas Holdings launched Ondas Capital, a new business unit focused on accelerating the global deployment of unmanned and autonomous systems to allied defense and security markets. James Acuna, who recently joined the OAS Advisory Board, will lead the investment program for the business unit.

Ondas Capital said it will combine advisory services with direct investment to support the rapid scaling of mature and combat-proven defense technologies. The unit will initially focus on activity in Eastern Europe, with a particular emphasis on Ukraine, and it plans to build bridges to Allied markets in the U.S. and Europe.

Ondas said it expects to deploy at least $150 million to this initiative over the next two years, with investments expected to begin in the fourth quarter of 2025.

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