Israel’s Maris-Tech Ltd (NASDAQ: MTEK) was up by over 37 per cent Wednesday after releasing its “Uranus-Drones” system and securing its first substantial purchase order of 100 units.
Uranus-Drones is built upon Maris-Tech’s proprietary Uranus technology — an artificial intelligence and video processing system used in defence, space, security and other sectors. While Uranus tech has a variety of applications, Uranus-Drones is specifically tailored for unmanned aerial vehicles (UAVs).
“Drones will gain unparalleled video streaming, tracking, and intelligence-gathering capabilities,” Maris-Tech claims.
It supports 4K Ultra-HD video and essentially functions as the brain of the drone, the technology company vaguely explained in a news release.
“Uranus-Drones acts as the central hub for transferring data between the flight controller, camera, and gimbal.”
Though complicated to try and summarize, the software essentially enables UAVs and drones to perform surveillance, data collection and other crucial tasks more efficiently while being user-friendly.
Maris-Tech attended the UVID Dronetech 2024 conference in Tel Aviv last month — the nation’s top UAV event.
Photo credit: Maris-Tech
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Maris-Tech establishes western subsidiary
In October, the Israeli tech developer announced the creation of Maris North America Inc.
Maris-Tech says it has secured partnerships with two influential business partners that will help the company propel its growth in the United States in particular. It did not specify who they were.
“With the engagement of two industry-leading consultants, we are confident that we can establish a strong foothold in the U.S. defence and homeland security markets,” chief executive, Israel Bar, explained at the time.
Maris-Tech’s financials have been looking pretty spiffy this year. It reported a 620 per cent year-over-year revenue spike for the six months ended Jun. 30 at US$3.4 million.
Additionally, Maris-Tech had a net profit of about US$132,000 during that period as opposed to a net loss of US$2.3 million during the six-month stretch in 2023.
A concise summary of what Maris-Tech does was available on its website.
“Founded in 2008, the company develops and manufactures miniature, high quality, low power, low latency video, audio, and telemetry data capture, streaming, recording, and processing technology that meets the evolving needs and trends of professional industries, government and military sectors, NewSpace, and law enforcement,” Maris-Tech described.
rowan@mugglehead.com
