Fundraising Fox
Palladyne AI
NASDAQ: PDYNSalt Lake City, US · Founded 2020 · Delaware corporation · 1 known investors
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Palladyne AI develops an edge AI platform (DECA architecture) that runs on-device without cloud dependency, enabling machines to perceive and act locally in real time. It serves aerospace and defense with loitering munitions, drone swarming software, and avionics, and serves industrial customers with software deployed on existing robots for tasks like pick-and-place and surface preparation.
Founders & leadership
Palladyne AI was founded in 2020 by Ben Wolff.
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Ben WolffCo-Founder, President, CEO and Board MemberAdvisor, WRG Technology Sector at WestRiver Group
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Stephen SonneExecutive
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Matthew VogtExecutive
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Denis GaragicChief Technology Officer & co-founder | AI/ML | Robotics | Autonomous SystemsChief Technology Officer and co-founder of Palladyne AI, Denis Garagić previously served as Chief Technology Officer at Sarcos and Chief Scientist at BAE Systems FAST Labs (2008–2020), where he led AI and machine learning initiatives for defense and intelligence applications. He holds a Ph.D. in Mechanical Engineering from Ohio State University and master's and bachelor's degrees in Mechanical Engineering and Technical Cybernetics from Czech Technical University in Prague.
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KRISTI MARTINDALEChief Commercial Officer (CCO)She has held commercial leadership roles spanning product management, sales, marketing, and investor relations at deep-tech companies including Sarcos Robotics and Qualcomm, with experience in capital raises, public offerings, and go-to-market strategy across AI, robotics, and autonomous systems.
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STEVEN HANSENExecutive
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PETER KLEINNamed on SEC filing
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PRIYA BALASUBRAMANIAMNamed on SEC filing
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JURGEN PEDERSENNamed on SEC filing
Board
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Brian D. FinnBoard director
Investors · 1
BlackRockreportedNew York
How we know: the S-1 prospectus · Not right? Tell us
Reported raises · per SEC filings
Form D private placements$60.8M disclosed across 2 rounds · 2022–2024
▶$6.9MraisedNov 2024 · 4 investors · Other TechnologyRule 506(b)
▶$6.9MraisedNov 2024 · 4 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Stephen SonneExecutive Officer
- Brian D. FinnDirector
- Laura J. PetersonDirector
- Dennis WeiblingDirector
- Matthew VogtExecutive Officer
- Matthew Shigenobu MutaDirector
- Eric T. OlsonDirector
- Denis GaragicExecutive Officer
- Trevor ThatcherExecutive Officer
- Benjamin G. WolffExecutive Officer, Director
- Offering amount
- $6.9M
- Amount sold
- $6.9M
- Sales commissions
- $420K
- Placement agents
- A.G.P./Alliance Global Partners
- First sale
- Oct 2024
- Incorporated
- Corporation, Delaware, 2020
- Federal exemptions
- 06b
▶$53.9MraisedMay 2022 · 26 investors · Other TechnologyRule 506(b)
▶$53.9MraisedMay 2022 · 26 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- DENNIS WEIBLINGDirector
- BENJAMIN G. WOLFFExecutive Officer, Director
- LAURA J. PETERSONDirector
- PETER KLEINDirector
- PRIYA BALASUBRAMANIAMDirector
- BRIAN D. FINNDirector
- KRISTI MARTINDALEExecutive Officer
- ERIC T. OLSONDirector
- DENIS GARAGICExecutive Officer
- JURGEN PEDERSENExecutive Officer
- MATTHEW SHIGENOBU MUTADirector
- STEVEN HANSENExecutive Officer
- KIVA ALLGOODExecutive Officer, Director
- Offering amount
- $53.9M
- Amount sold
- $53.9M
- First sale
- Apr 2022
- Incorporated
- Corporation, Delaware, 2020
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
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In the news
Frequently asked questions
- What does Palladyne AI do?
- Palladyne AI develops an edge AI platform (DECA architecture) that runs on-device without cloud dependency, enabling machines to perceive and act locally in real time. It serves aerospace and defense with loitering munitions, drone swarming software, and avionics, and serves industrial customers with software deployed on existing robots for tasks like pick-and-place and surface preparation.
- Who founded Palladyne AI?
- Palladyne AI was founded by Ben Wolff in 2020.
- Who are Palladyne AI's investors?
- Palladyne AI's investors include BlackRock.
- How much funding has Palladyne AI raised?
- Palladyne AI has disclosed $60.8M raised across 2 rounds.
- Where is Palladyne AI headquartered?
- Palladyne AI is headquartered in Salt Lake City, US.