Directed energy tech firm Epirus raises $70mn in Series B
Los Angeles, California-based Epirus is developing high-power microwave products for both commercial and defence use.
The company recently won an agreement with defence company Northrop Grumman to supply an Electromagnetic Pulse capability as part of an anti-drone set of solutions known as the Counter-Unmanned Aerial System. Commercial applications of Epirus’ technologies include protecting critical infrastructure and potential improvements in energy efficiency.
Since its foundation in 2018, the company has raised across three funding rounds. Its latest round, announced yesterday, saw the company raise $70mn from lead investors Bedrock Capital, alongside Piedmont Capital, L3 Harris Technologies, Greenspring Associates, Fathom Capital and 8VC.
In , Grant Verstandig, Epirus Co-Founder and Executive Chairman, said: “Epirus has achieved multiple milestones at breathtaking pace. Now, with backing from an exceptional, high-conviction group of investors led by Bedrock and support from two of the defense sector’s most innovative and forward-thinking partners in L3 Harris and Northrop Grumman, Epirus is poised to revolutionize directed energy and break the boundaries of power management, with far-reaching potential across defense, security, and commercial applications.”
The company said the funds would be used to manufacture and improve its SmartPower technology in particular, which relies on AI-enabled semiconductors for high levels of power density without overheating.
“Epirus counters the weak assumption baked into standard VC models that the economic and cultural gaps of defense-focused investments are too wide to overcome,” said Geoff Lewis of Bedrock Capital. “We’re very excited to invest in a company that has quickly translated its transformative ideas into scalable technology with broad market potential across the defense sectors. With its entrepreneurial mindset and scientific sophistication, we are confident that Epirus has the capacity to integrate its technology into top tier counter-UAS systems and lead the way in developing new and compelling directed energy applications.”
ICO warns of privacy concerns on the use of LFR technology
“I am deeply concerned about the potential for live facial recognition (LFR) technology to be used inappropriately, excessively, or even recklessly. When sensitive personal data is collected on a mass scale without people’s knowledge, choice or control, the impacts could be significant,” said Elizabeth Denham, the UK’s Information Commissioner.
Denham explained that with any new technology, building public trust and confidence in the way people’s information is used is crucial so the benefits derived from the technology can be fully realised.
“It is not my role to endorse or ban a technology but, while this technology is developing and not widely deployed, we have an opportunity to ensure it does not expand without due regard for data protection,” Denham added.
The Information Commissioner’s Office has said it will work with organisations to ensure that the use of LFR is lawful, and that a fair balance is struck between their own purposes and the interests and rights of the public. They will also engage with Government, regulators and industry, as well as international colleagues to make sure data protection and innovation can continue to work hand in hand.
What is live facial recognition?
Facial recognition is the process by which a person can be identified or recognised from a digital facial image. Cameras are used to capture these images and FRT software measures and analyses facial features to produce a biometric template. This typically enables the user to identify, authenticate or verify, or categorise individuals.
Live facial recognition (LFR) is a type of FRT that allows this process to take place automatically and in real-time. LFR is typically deployed in a similar way to traditional CCTV in that it is directed towards everyone in a particular area rather than specific individuals. It can capture the biometric data of all individuals passing within range of the camera indiscriminately, as opposed to more targeted “one-to-one” data processing. This can involve the collection of biometric data on a mass scale and there is often a lack of awareness, choice or control for the individual in this process.
Why is biometric data particularly sensitive?
Biometrics are physical or behavioural human characteristics that can be used to digitally identify a person to grant access to systems, devices, or data. Biometric data extracted from a facial image can be used to uniquely identify an individual in a range of different contexts. It can also be used to estimate or infer other characteristics, such as their age, sex, gender, or ethnicity.
The security of the biometric authentication data is vitally important, even more than the security of passwords, since passwords can be easily changed if they are exposed. A fingerprint or retinal scan, however, is immutable.
The UK courts have concluded that “like fingerprints and DNA [a facial biometric template] is information of an “intrinsically private” character.” LFR can collect this data without any direct engagement with the individual. Given that LFR relies on the use of sensitive personal data, the public must have confidence that its use is lawful, fair, transparent, and meets the other standards set out in data protection legislation.