Trive Capital, a Dallas, TX-based private equity firm, acquired AI defense platform and solutions company Hypergiant Industries, an Austin, TX provider of AI-enabled, cloud-based command and control technologies and deployed solutions.
The amount of the deal was not disclosed.
With the acquisition, Trive will complement its current portfolio company Forward Slope. Mike Betzer, CEO of Hypergiant, will continue leading the company into its next phase of accelerated growth.
Founded by Ben Lamm (now CEO of Colossal Biosciences) and led by CEO Mike Betzer, Hypergiant provides a core geospatial data visualization and actions platform, Command Center, which ingests large amounts of information and applies real-time threat analysis, makes AI-generated recommendations, and delivers intelligent insights and actions across all domains.
Hypergiant has also received market recognition for its inventions, including AI-enabled projects such as the Hypergiant Eos Bioreactor, Hypergiant Project Orion, then Hypergiant Disaster Mapping System, the Hypergiant Chameleon prototype constellation, Project Argus in partnership with Amazon among others. These various innovations focused on expanding the company’s capabilities, adding to its common operating picture platform from autonomous vehicles, to mobile command centers, to various heads up display implementations.
Select customers are the U.S. Air Force, U.S. Space Force, the Department of Homeland Security, National Aeronautics and Space Administration (NASA), the U.S. Army, the National Reconnaissance Office, Boeing, and Booz Allen Hamilton.
Hypergiant has over 195 employees and contractors and investors include lead investor Align Capital along with GPG, Perot Jain, Beringer Capital, and Capital Factory. The acquisition follows a recently expanded $60M+ contract award from the USAF around its command and control platform offering.
FinSMEs
23/08/2023