Aventra Defense raises $17.5M for balloon-launched stratospheric gliders

Virginia-based Aventra Defense Systems raised $17.5 million, including a credit facility from Western Alliance Bank, in a round led by Konvoy with Booz Allen Ventures, Lavrock Ventures, Sands Capital and Langford Industries. Its Piranha platform rides a balloon to 60,000–100,000 feet, then glides hundreds of kilometers unpowered with meter-level accuracy without GPS.

• $17.5M round led by Konvoy, with Booz Allen Ventures and Lavrock Ventures
• Balloon lifts payload to 60,000–100,000 feet before glider release
• Company claims over 400 test flights, including Arcane Thunder 26 exercise
• Piranha payload said to cost about 1/20 of a cruise missile