For public release
Jun 10, 2021
UAT announced the completion of an oversubscribed $1.35 million financing round as well as an additional $350k of non-dilutive financing.
Troy, NY -- United Aircraft Technologies, Inc. (“UAT”), an emerging leader in aerospace technology, announced the completion of an oversubscribed $1.35 million financing round as well as an additional $350k of non-dilutive financing. Hudson Valley Startup Fund led the round, with participation from Lever, The Alchemy Fund, and Westchester Angels.
Daryian Rhysing, Founder and CTO of UAT, was a US Army aircraft electrician for 14 years before being honorably discharged with a service-related disability. His experience inspired the invention of the UAT Interconnecting Clamp (“ICC”), a patented technology intended as a replacement platform for interconnect cable management in aircraft.
The ICC benefits aircraft operators by combining a novel cable clamp design with a robust sensor network and a SaaS platform to reduce aircraft weight, minimize operational costs, prevent injuries, and aid in modernization efforts of electrical wiring management and maintenance.
"We are incredibly grateful for the support of the Hudson Valley investment community as well as for the support of our early investors, advisors, and our wonderful team," says Evaguel Rhysing, CEO of UAT, "The proceeds from this financing will enable UAT to invest the resources that we’ll need to address the incredible business opportunities in front of us."
Leon Greene, Managing Partner at Hudson Valley Startup Fund added, "The traction and market fit that UAT is experiencing are testament to the product and to their understanding of the customers’ needs. The team at UAT have tremendous real world experience and have leveraged that to build a great solution with expansive market potential. We are thrilled to welcome UAT to our growing portfolio and look forward to supporting their journey!"
About United Aircraft Technologies, Inc.
United Aircraft Technologies (https://uairtek.com/) is an innovator of high tech solutions for cable interconnect management. UAT enables IoT like monitoring of cable interconnect systems while reducing both aircraft weight and maintenance costs. For more information, please contact Evaguel Rhysing, CEO, email@example.com.
About Hudson Valley Startup Fund
HV Startup Fund is a member-managed seed capital fund that launched in 2016 to support high-growth companies in the HV. HVSF is comprised of 65 investors, most of whom are local business and community leaders who invest time and resources to support the region's entrepreneurial ecosystem. The fund provides seed funding, mentorship, and connections for local entrepreneurs, while delivering investment returns to its members. Hudson Valley entrepreneurs are encouraged to submit applications for investment consideration through the HV Startup Fund page on Gust. For more information, please contact Andrew Schulkind, firstname.lastname@example.org.
Press release available for download as a PDF.
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