TrackingPoint, an Austin, Texas-based developer of a Precision Guided Firearm (PGF) system, raised $29m in Series D financing.
The round was led by Genesis Inventions LP and McHale Labs LLC with participation from Austin Ventures, Goff Capital Inc and a number of super angels.
The company intends to use the funds to expand its market making and product development activities, diversifying and building its line of PGFs and related platforms.
Led by John Lupher, CEO, TrackingPoint provides a firearm tracking system giving shooters the ability to track and hit moving targets at long range by first “tagging” the target with a red dot. The tag persists on the target, regardless of relative movement. Once the PGF reticle aligns with the tag, the system calculates an exact firing solution factoring in range, wind, target velocity, shot angle, rifle cant, temperature, barometric pressure and other factors.
The company’s rifles are priced beginning at $9,995 and are available for consumer purchase by application only.