The Troy startup United Aircraft Technologies has recently raised a total of $1.7 million.
That includes $1.35 million in a round of oversubscribed financing — meaning there were more investors interested than there was room to accommodate them, and the startup already has a head start on its next funding round — as well as $350,000 from recent grants and competitions.
Hudson Valley Startup Fund led the financing round, and there was participation from Lever, The Alchemy Fund, and Westchester Angels.
This brings UAT’s total funds raised to nearly $2.2 million, said Evaguel Rhysing, CEO of the startup.
UAT is developing a device that holds electrical wiring in place. The non-metal device is lighter than traditionally used clamps, and it takes less time and effort to secure because its two pieces click together without the use of tools. There can be up to 20,000 such clamps in an aircraft.
Sensors in the UAT clamp can map, monitor and diagnose specific issues within an electrical system, which users can view through a software application.
"What we've done is we've given this clamp a new purpose,” Rhysing said. “It has a network of sensors that can monitor the performance of the electrical wiring, keeping in mind there are miles of wiring in an aircraft.”
The latest funding will go toward the next phase of commercialization, Rhysing said. That includes fulfilling a couple of contracts with the U.S. military that will use UAT’s device in a new fleet of helicopters. The startup is currently working with a contract manufacturer to create injection molds for the product.
Daryian Rhysing, UAT chief technology officer, founded the company after years of military service securing the traditional clamps, which caused carpal tunnel syndrome and led to the loss of his job..
UAT’s initial customers are military organizations, but the startup is also speaking with commercial aircraft manufacturers, Rhysing said. Though the startup was founded with aircraft in mind, the goal is to use device in other types of vehicles or even the electrical grid.
“This goes beyond just beyond military or commercial aerospace. Anywhere there's wiring, there's an application," Rhysing said.
UAT now has 12 employees, and there are plans to hire more as needed. UAT has an internship program that draws workers from Rensselaer Polytechnic and other schools. After the program, UAT either hires the interns or helps them find jobs elsewhere, Rhysing said. Nearly 80% of the workforce is from underrepresented backgrounds, and she wants to continue growing a diverse team.
Here's a United Aircraft Technologies video explaining its product:
