Advance, a family-owned business that invests in technology, communications and media companies, has completed its purchase of Allied Mindsâ minority stake in HawkEye 360.
Advance said Friday it will join HawkEye 360âs board and has committed to making a $15M capital investment in the latter through its Series B funding round.
Allied Minds agreed to sell its stake in HawkEye 360 in September. The completion of the transaction came days after shareholders of Allied Minds voted in favor of the sale.
Founded in 2015, HawkEye 360 is a portfolio company of Allied Minds and a radio frequency data analytics platforms provider. It offers spectrum mapping and monitoring and maritime domain awareness support to government, industry and international organizations.
“This shift from Allied Minds to Advance reaffirms our heritage as an American owned, operated, and headquartered corporation, which we know to be essential for leadership in the emerging RF sensing market,” said HawkEye 360 CEO John Serafini.