Boundary.AI just raised tens of millions of CNY in Pre-Series A funding, led by Puhua Capital with participation from ASB Ventures, Shenzhen Credit Guarantee Group, etc. Existing shareholder Sequoia Capital China also poured in money. Proceeds from this round will accelerate the R&D of Boundary.AI's product and technology, land a certificate of airworthiness and advance commercialization efforts.
Founded in 2020, Boundary.AI dedicates itself to developing FCS and related airborne systems that comply with the certification requirements of Civil Aviation. Boundary.AI helps aircraft to establish a series of capabilities such as sensing, navigation, decision-making, and planning. Boundary.AI fills in the blanks of core civil avionics market opportunities in China and creates a better business ecosystem.
The core team at Boundary.AI has been collaborating for almost 10 years. They have extensive experience developing aircraft in China and Europe, including eVTOL aircraft, conventional fixed-wing aircraft, and UAVs. Now Boundary.AI has expanded to a team of almost 50 people. With expertise in safety-critical aerial systems as well as capabilities of algorithms, software, and hardware development, it has become unique in the industry.
The new revolution in aviation, especially eVTOL, has brought more demand for intelligence and autonomy. Meanwhile, FCS has cross-links with almost all airborne systems, which makes FCS one of the airplane's most complex safety-critical systems. Boundary.AI launched R3, its triple redundant FCS baseline product, which has already been installed on a 2-ton eVTOL and completed its maiden flight. Other airplanes with R3 inside will fly soon.
Boundary.AI has built in-depth cooperation with various clients, including leading civil aviation companies, automotive giants' eVTOL projects, and rising eVTOL startup stars.
"eVTOL is our entry point, said WENG Haimin, founder and CEO of Boundary. AI says, "Many clients came to us because of our eVTOL project experience and expertise. eVTOL is crucial for us to grow and improve our products. In the long run, we hope to use the products and capabilities developed through the eVTOL projects on more aircraft types and explore more scenarios."
The company has continued to extend its product line beyond FCS to cover airborne navigation systems, simulation platforms, visual simulation, etc. Boundary AI also builds strategic partnerships with several leading suppliers, such as AVIAGE SYSTEMS, ACCEL, and HUAV, to "empower each other."
Boundary.AI gained attention and acknowledgment from the capital market as well. It has completed angel round funding from Sequoia Capital China Seed Fund and SME Development Fund (Shenzhen Nanshan Limited Partnership) managed by Oriental Fortune Capital in 2021, and Pre-Series A funding led by Puhua Capital in 2022, showing that the investors are confident in the prospects for technological innovation in the new generation of the aviation industry and the continued growth of Boundary. AI.
"The electrification and intelligence trend of aircraft has brought more opportunities for FCS," said Wu Xiaofeng, partner at Puhua Capital. "Boundary.AI is a unique team in this segment, with a solid technical foundation, innovative mindset, and international perspective. Its products and technologies have won recognition from OEMs and other players." WU said. "I believe Boundary.AI will become a leader in this (eVTOL) area."