US-Ukrainian startup Vermeer, which develops Visual Positioning Systems (VPS), has raised $10 million in funding from Draper Associates and Rockaway Ventures. The investment will support product development and expand manufacturing capacity, as Vestbee was informed.
- Founded in 2018 by Brian Streem, Vermeer develops Visual Positioning Systems (VPS), technology that enables drones and other autonomous vehicles to navigate without GPS.
- The system uses electro-optical or infrared cameras to analyze the environment and match it to 2D or 3D visual maps, determining precise location even when satellite signals are jammed or unavailable.
- As a passive, signal-independent solution, VPS remains effective in contested or GPS-denied areas, making it valuable for both defense and industrial applications.
- Originally built from Streem’s work in drone cinematography, Vermeer now operates between the United States and Ukraine, where its technology is being tested and deployed in active field conditions.
“Our goal isn’t just to give drones mass, it’s to give them precision, intelligence, and purpose. We’re proud to have earned the trust of over 30 customers, and with the support of Draper, and our other venture partners, we’re ready to scale that mission," claims Brian Streem, CEO of Vermeer.
Details of the deal
- The Series A round was led by Draper Associates, a renowned Silicon Valley venture capital firm known for backing pioneers like Tesla, SpaceX, and Coinbase, with support from Rockaway Ventures, a Prague-based fund investing in transformative technologies and dual-use innovations across Europe and the US.
“Dual-use tech catalyzes technical progress in both the defense and commercial sectors. And much of this innovation is already being successfully deployed,” said Andy Tang, partner at Draper Associates.
- Vermeer will use the $10 million Series A funding to advance its Visual Positioning System (VPS), increase production capacity, and scale global operations.
- The investment will help the company refine its technology, expand deployment across defense and commercial sectors, and meet growing demand for reliable navigation solutions in GPS-denied environments.
