​​Startup Xwing hits a $ 400M valuation, after the latest fund | TITAN Financial

​​Startup Xwing hits a $ 400M valuation, after the latest funding round.

Xwing, the autonomous aviation company, performed its first self-contained, gate-to-gate commercial cargo plane demonstration flight. And on April 15 this year, the company said it raised $ 40 million in valuation after depositing $ 400 million in cash. The company aims to operate regular, fully unmanned commercial cargo flights.

Xwing is developing a stack of technologies to convert aircraft, including the widely used Cessna Grand Caravan 208B, to work offline. But first, there were several problems with perception, planning, and control that needed to be addressed. The company offered a range of solutions to address these challenges, including integrating lidar, radar, and cameras into aircraft; retrofitting of servo motors that control the rudder, braking, and other functions; and ensuring that they all communicate properly so that the aircraft understands where it is in space and can fly, as reported TC.

For autonomous flights, the company has FAA approval to fly under the Experimental Airworthiness Certificate for Research and Development, which was expanded last August to include a Special Flight Authorization for Optionally Manned Aircraft (OPA).

via. TITAN