AURA Network Systems Funding, Investors & Competitors

AURA Network Systems has raised $109M across 3 funding rounds, most recently a $75M Series B in November 2022.

Last AURA Network Systems funding round

$75M

Series B · Nov 2022

Cumulative funding AURA Network Systems raised

$109M

across 3 funding rounds

Key investors in AURA Network Systems

  • Tracker Capital Management
  • Mudrick Capital Management
  • Fortress Investment Group
  • Bhavik Bajaj

AURA Network Systems Overview

About AURA Network Systems

AURA Network Systems is a Centennial-headquartered provider of FAA-compliant wireless networks using licensed 450 MHz aviation spectrum for autonomous aircraft operations. The technology supports beyond visual line-of-sight flights in the National Airspace System. Established in 2021, AURA enables drone delivery and urban air mobility for partners in Colorado and nationwide.


Founded

2019

HQ

United StatesWashington, DC

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

AURA Network Systems Funding History

AURA Network Systems has raised a total of $109M across 3 funding rounds.

AURA Network Systems' first fundraising round was a $3M seed round in March 2021. The most recent completed round was a $75M Series B in November 2022.

AURA Network Systems funding rounds

AURA Network Systems funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2022Series BFortress Investment Group (lead); Tracker Capital Management; Mudrick Capital Management$75MAURA Network Systems, based in McLean, Virginia, develops a proprietary nationwide wireless communications network utilizing licensed 450 MHz aviation spectrum to enable command and control (C2) communications for remotely piloted commercial flights beyond visual line of sight (BVLOS), unpiloted aircraft systems (UAS), and advanced air mobility (AAM) applications. As a Command and Control Communication Service Provider (C2CSP), the network supports secure transmission of flight data, telemetry, and air traffic control voice services, with 57 sites providing coverage across all 50 U.S. states, Puerto Rico, Guam, and American Samoa. Founded in 2019, AURA launched its coast-to-coast network in November 2020 and secured an FCC license in January 2021 with no altitude restrictions; it has completed a four-year FAA cooperative R&D agreement and two NASA Space Act agreements. On November 14, 2022, AURA closed a $75 million funding round, with $55 million from lead investor Fortress Investment Group (or affiliates) and $20 million from prior investors Mudrick Capital Management and Tracker Capital Management. This followed a $30.9 million equity raise in July 2021 ($30 million from Mudrick and Tracker, plus $1 million from management) and an initial $7.5 million financing, bringing total funding to about $110 million. The capital supports continued R&D, commercial service launch, and acquisition of the 450 MHz spectrum from the FCC after prior leasing. The network was demonstrated at the National AAM Industry Forum in Springfield, Ohio, and mid-July events in Western Maryland, featuring aircraft with AURA's airborne radio and voice comms module. CEO Bill Tolpegin highlighted the funding's role in providing runway for commercial services in transforming aviation transportation. Fortress Managing Partner Drew McKnight emphasized AURA's potential in crewed/uncrewed aircraft markets, including autonomous air cargo and urban air mobility, projected at nearly $150 billion annual spending over 15 years.
Jul 2021Series AMudrick Capital Management (lead); Tracker Capital Management (lead); Bhavik Bajaj$31MAURA Network Systems operates the nation's only coast-to-coast network designed to enable the commercial viability of the Unmanned Aircraft Systems (UAS) market by providing secure and reliable voice and data communications for beyond visual line of sight (BVLOS) operations. The company closed a $30.9 million Series A funding round on July 28, 2021, led by Mudrick Capital Management and Tracker Capital Management with their combined $30 million investment, plus nearly $1 million from company management. This followed an initial $7.5 million financing, bringing total funding to $38.4 million at that point. The funding supports expansion of AURA's technology and capabilities to integrate higher levels of autonomy into U.S. airspace for UAS and manned missions. Around the same time, AURA was selected by NASA as a National Campaign partner for integrating air taxis, cargo-delivery aircraft, and advanced air vehicles into the national airspace. It also joined an FAA fast-tracking rulemaking committee for BVLOS operations and benefited from a January 2021 FCC ruling allowing network expansion for UAS at all altitudes. AURA positions itself for Advanced Air Mobility (AAM) and Urban Air Mobility (UAM) with highly automated aircraft for passengers or cargo in urban, suburban, and rural areas, distinct from hobbyist drones. Subsequent developments include a $75 million funding round in November 2022 from Fortress Investment Group ($55 million) and returning investors Mudrick and Tracker ($20 million), building toward a network of 57 sites covering all 50 U.S. states, Puerto Rico, Guam, and American Samoa in the 450MHz band for low-latency voice services.
Mar 2021Seed-$3MAURA Network Systems operates a coast-to-coast network using licensed 450-MHz aviation spectrum to enable secure voice and data communications for Unmanned Aircraft Systems (UAS) and autonomous aviation operations. The company aims to support beyond visual line of sight (BVLOS) operations and integrate air taxis and cargo drones into the national airspace. In 2021, AURA closed a Series A funding round of $30.9 million led by Mudrick Capital Management and Tracker Capital Management, bringing total funding to $38.4 million including a prior $7.5 million raise. The funds support technology advancement for higher autonomy in U.S. airspace. AURA was selected by NASA as a National Campaign partner and named to an FAA rulemaking committee for BVLOS operations around this period.

Who has invested in AURA Network Systems?

4 investors have backed AURA Network Systems across its funding rounds, including Tracker Capital Management, Mudrick Capital Management, Fortress Investment Group and Bhavik Bajaj.

Lead investors include Fortress Investment Group, Mudrick Capital Management and Tracker Capital Management.


AURA Network Systems Investors

Investors in AURA Network Systems by funding rounds participated
InvestorHQRoundsRoleFirst check
Tracker Capital ManagementUnited StatesNew York City, NY2LeadJul 2021
Mudrick Capital ManagementUnited StatesNew York City, NY2LeadJul 2021

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AURA Network Systems Competitors

AURA Network Systems competitors include listed companies like Tesla, General Motors, Ciena and Yangtze Optical Fibre, and private ones like Waymo and Anduril.

Public and private companies comparable to AURA Network Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TeslaUnited StatesUnited StatesPublicly listed$95B$10B$1.4T13.8x
WaymoUnited StatesSan Francisco, CAPrivate$400M-$126B315.0x
General MotorsUnited StatesUnited StatesPublicly listed$185B$15B$76B1.0x
AndurilUnited StatesLos Angeles, CAPrivate$2.2B-$61B27.7x
CienaUnited StatesUnited StatesPublicly listed$4.8B$333M$49B7.9x
Yangtze Optical FibreChinaChinaPublicly listed$2.1B$247M$38B11.1x

AURA Network Systems Public Comps

AURA Network Systems is still privately-owned, but its public comps include Tesla, Bharti Airtel, Equinix, American Tower, General Motors, Digital Realty Trust, Nokia, Ciena, Telstra and Yangtze Optical Fibre.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tesla$95B$10B15.0x13.8x140.8x97.4x
Bharti Airtel$22B$12B6.2x5.7x11.3x10.1x
Equinix$9.2B$3.9B13.3x12.3x31.3x24.2x
American Tower$11B$6.2B12.4x12.0x21.1x18.2x
General Motors$185B$15B1.0x1.0x12.1x8.5x
Digital Realty Trust$6.1B$3.7B14.6x13.1x24.2x24.2x
Nokia$23B$2.2B2.5x2.4x26.4x17.3x
Ciena$4.8B$333M10.4x7.9x148.4x36.4x

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Common questions about AURA Network Systems

When was AURA Network Systems founded?AURA Network Systems was founded in 2019.
Where is AURA Network Systems headquartered?AURA Network Systems is headquartered in Washington, DC, United States.
Is AURA Network Systems publicly listed?No, AURA Network Systems is a private, VC-backed company.
How much funding has AURA Network Systems raised?AURA Network Systems has raised $109M across 3 funding rounds.
What was AURA Network Systems' last funding round?AURA Network Systems' last funding round was a $75M Series B in November 2022, led by Fortress Investment Group.
Who are AURA Network Systems' investors?AURA Network Systems' investors include Tracker Capital Management, Mudrick Capital Management, Fortress Investment Group and Bhavik Bajaj.
Which companies are comparable to AURA Network Systems?Companies comparable to AURA Network Systems include Tesla, Waymo, General Motors, Anduril, Ciena and Yangtze Optical Fibre.

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