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Protection startup Epirus, Inc. is getting new management.
Workers have been informed at an all-hands assembly this morning that CEO Ken Bedingfield was leaving, TechCrunch discovered. The information was later confirmed by an organization spokesperson, who informed TechCrunch that Bedingfield accepted a task at an unnamed public firm. He might be changed by COO Andy Lowery, efficient instantly.
Bedingfield held the title of CEO at Epirus for lower than a yr. Previous to that place, he served as COO and CFO since June 2020. He got here to Epirus from aerospace and protection large Northrop Grumman, the place he served as CFO.
Torrance, California-based Epirus develops “directed-energy” weapons that can be utilized to counter drones and different aerial automobiles. The product line, known as Leonidas, makes use of high-power microwave expertise mounted on a gimble to neutralize programs from up-close or afar. Initially of this yr, the corporate landed a $66 million contract from the U.S. Military to ship a number of Leonidas prototypes this yr.
Epirus’ tech has garnered appreciable curiosity from traders too: final yr, the startup closed a $200 million Sequence C at a post-deal valuation of $1.35 billion, from traders together with T. Rowe Worth Associates, 8VC and Bedrock.
“Over the previous yr, Ken led the corporate via various essential milestones and achievements, most notably the profitable supply of the primary IFPC-HPM system to the united statesArmy, cementing a transparent pathway in direction of delivering an operational high-power microwave functionality to the Division of Protection,” an Epirus spokesperson stated in a press release.