Ondas Holdings Inc.
Ondas Holdings Secures $3.5 Million Investment for Ondas Autonomous Systems
Summary
Ondas Holdings Inc. announced that its subsidiary, Ondas Autonomous Systems Inc. (OAS), has secured a $3.5 million investment through the issuance of convertible promissory notes. The investment, led by Ondas' Chairman and CEO Eric Brock and Board Member Joe Popolo, aims to support OAS's growth in providing unmanned aerial security and intelligence solutions. The notes will mature on September 30, 2025, and are convertible into OAS securities under certain conditions. The investment will be completed by October 31, 2024.
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About Ondas Holdings Inc.
Ondas Holdings Inc. is a technology company specializing in advanced wireless networking solutions. The company's primary function is to develop and provide mission-critical networking infrastructure for the Industrial Internet of Things (IIoT). Ondas Holdings offers its proprietary FullMAX radio platform, which is designed for secure, reliable, and extensive coverage networking in open and challenging environments, making it particularly suitable for industrial and commercial sectors. The industries it impacts include utilities, transportation, and public safety, among others, by providing robust wireless communication networks that enhance operational efficiencies and safety protocols. Ondas Holdings is significant in the market for its innovative approach to addressing the unique communication needs of large-scale enterprises, driving the digital transformation of traditional industries towards more connected and data-driven operations.
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