Wrap Technologies, Inc. announced the execution of a securities purchase agreement for a private placement, raising $4.5 million.
The funding will accelerate the development and field application of counter-drone capabilities through the Wrap-Merlin and Wrap-PANDA programs.
It also supports law enforcement and commercial initiatives like subscription-based solutions and public safety technologies.
Accelerates Counter-UAS Fielding
Proceeds to advance Wrap's Wrap-Merlin and Wrap-PANDA programs for rapid progression from development to field application.
Dual-Use Pathway
Supports law enforcement go-to-market strategy and commercial wins in federal sales, leveraging existing technology base for scalable government business.
Expands Market Execution
Strengthens law enforcement growth initiatives, including subscription-based solutions and public safety technologies.
WrapVision Expansion
Advances offering of North American-made body cameras and cost-saving technologies for law enforcement agencies, opening access to healthcare markets.
- The private placement will accelerate the development of counter-drone capabilities and strengthen law enforcement solutions.
- Wrap Technologies aims to leverage the funds to expand market execution and enhance WrapVision's offerings, including body cameras and cost-effective technologies.
- The financing is expected to drive innovation in public safety technology and support the company's dual-use strategy for growth and commercial wins.
The successful private placement secures crucial funding for Wrap Technologies to enhance its technology offerings and market execution, driving innovation and growth in the public safety sector.