RedBird Capital Partners Led Round To Support Red 6's Continued Growth
ORLANDO, Fla., June 1, 2023 /PRNewswire/ -- Red 6, a revolutionary Augmented Reality (AR) technology firm at the forefront of synthetic air combat training and augmented reality applications for the entertainment industry, today announced the completion of a $70 million Series B financing. The new capital will enable Red 6 to continue to invest in the proprietary technology that supports its Advanced Tactical Augmented Reality System (ATARS). ATARS is a multi-node, all-domain AR system that delivers a complete outdoor synthetic training environment for multiple users. The technology allows pilots to experience the cognitive loads of physically flying airplanes while capturing the value of synthetics by enabling them to enter realistic, scalable, simulated training in the most dynamic of outdoor environments.
"Red 6 started as a dream to transform training for the courageous men and women that serve and defend our nation. Now, Red 6 has grown into an established business that continues to revolutionize and modernize training by offering innovative technology and services," said Daniel Robinson, Founder and CEO of Red 6.
The round was led by RedBird Capital Partners, a private investment firm with extensive experience investing in the media & entertainment, sports, and experiential consumer ecosystems. The financing round also included existing and new investors, including Alpha Edison, Boeing's AEI Horizon X Fund, Lockheed Ventures, Accelerator Investments LLC through the Disney Accelerator program, Washington Harbour Partners, M-Cor Holdings, the UK's National Security Strategic Investment Fund, Moonshots Capital, Irongate, State of Florida Opportunity Fund, Alumni Ventures, Alliance Holdings, Alcazar Capital, and Robert Downey Jr.'s, Downey Labs.
Julia Wittlin, Partner at RedBird Capital leading the firm's early-stage growth investing, added, "Daniel and the Red 6 team are leveraging the power of modern technology to develop dual-use applications that enhance training practices used by institutions like the US Department of Defense, while also blending the digital and physical world in outdoor entertainment venues and similar use cases. Given RedBird's experience working with innovative companies within both the aviation services and entertainment industries, our investment is designed to provide strategic capital, as well as operational guidance to help Red 6 scale and make a tangible impact on the future of the sector."
Robinson and the Red 6 team are focused on delivering a synthetic training environment that will provide real life, near-peer threat training that enhances cognitive skills and learning. Until now, this has not existed. ATARS will directly address the U.S. and allied military's pilot shortage, and the overextension of resources critical to preparing our armed services in a quicker, cheaper, safer, and cleaner way.
"I firmly believe that to revolutionize the defense industrial base in our country, there is an increasing interdependence between the Department of Defense, the entrepreneur, and private capital. I am delighted that sophisticated, experienced investors, such as RedBird, have taken the time to understand and align with our long-term vision," concluded Robinson.
About Red 6
Red 6, founded in 2018, is the creator of Advanced Tactical Augmented Reality System (ATARS), and Augmented Reality Command and Analytic Data Environment (ARCADE). Red 6 systems are the first wide field-of-view, full color demonstrably proven outdoor augmented reality solution that operates in dynamic outdoor environments. Together, they bring virtual and constructive assets into the real-world by allowing pilots and ground operators to see synthetic threats in real-time, outdoors, and critically, in high-speed environments.
About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies and provides strategic capital solutions to founders and entrepreneurs. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business building mandate that focuses on three core industry verticals- Media & Entertainment, Sports and Experiential Consumer, and Financial Services. Throughout his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. The firm currently manages over $8.6 billion in assets on behalf of a global group of blue chip institutional and family office investors. For more information, please go to www.redbirdcap.com.
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