Sydney Angels has invested nearly $600,000 in Seitec, a startup specializing in unexploded ordnance detection technology, through their initial seed round.
Target Information
Seitec, a veteran-founded firm located in Canberra, ACT, is a pioneer in developing innovative technology for the detection and localization of unexploded ordnance (UXO) on military test ranges. This cutting-edge solution, known as UXOTrackS, utilizes a sophisticated system of seismic sensors to enhance safety and efficiency on military grounds. As awareness regarding the necessity of maintaining unobstructed test ranges increases, Seitec’s technology offers considerable benefits by reducing operational costs and promoting environmental sustainability. Currently, UXOTrackS is approaching market readiness, and the company is actively engaged in discussions with the Royal Australian Air Force.
Established through a commercialization initiative by Defence Australia, Seitec aims to leverage its technology not only in military applications but also in security domains. The founder, Daniel Stevens, envisions expanding the technology's capabilities to include applications such as vehicle and footstep detection, branded as the Nightingale product. Development efforts for Nightingale are progressing, with demonstrations expected to begin in the third quarter of 2022.
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Industry Overview
The defense technology industry in Australia is experiencing significant growth, driven by increasing government spending on defense and security measures. As geopolitical tensions rise, there is a heightened focus on enhancing the capabilities of domes
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Sydney Angels
invested in
Seitec
in 2022
in a Seed Stage deal
Disclosed details
Transaction Size: $1M
Enterprise Value: $3M
Equity Value: $3M