What Happened
New Funding Boosts Development Of Autonomous Systems
Autonomous flight system developer Merlin has secured $80 million in new funding through the sale of shares to an existing institutional investor. This investment follows Merlin’s public listing in March, which was achieved through a merger with a special purpose acquisition company (SPAC) that grossed $200 million. The funding is expected to support Merlin’s ongoing development of autonomous flight systems. This development was first reported by Aviation Week.