London · United Kingdom · founded 2026 · https://milliray.com/
Diligence memoA one-page analyst read on Milliray — recommendation, valuation, rhythm, risks.→Milliray: limited disclosed financing to assess.
Synthesized from the figures below est. — every claim rests on a number shown on this page.
AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%
operates a technology-led product inferred from public copy
Grounded in: “You are a venture analyst”
Technology to detect and track small drones
We make radars that can see small drones. As drones evolve faster than air defenses, detection has fallen behind. Even $50 drones now present a major threat to airports, critical infrastructure, and front-line defense. We solve this by building high-frequency radar systems, designed from the ground up to detect even the most challenging low-signature targets. This allows us to identify and track nano drones like no other solution, letting you know what's truly in your airspace.
As reported in public records reported — not modeled.
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
No round amounts on record to chart.
No staged rounds to sequence.
Round size and date are reported; the stage label is inferred from round size. Valuation is modeled from stage benchmarks. Directional, not a quoted figure.
Not enough modeled valuation points to chart a trajectory.
Benchmarked against 8525 companies in this sector. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Raised more than 96% of sector peers (real $). Modeled value above 96% of peers (estimate).
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| No rounds recorded. | |||||
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
Milliray is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.
| Company | Sector | Stage | Value · est | Match |
|---|---|---|---|---|
| Guardian RF Drone detection for US defense and national security | Public Safety & Security | — | — | 77% |
| Arlo Industries Track drones and missiles without radars - Accurate, Passive, Scalable | Defense | — | — | 76% |
| Radar USA Inc. | Other Technology | Seed | $31.2M | 76% |
| DroneShield Ltd | Robotics | Series B | $2.4M | 76% |
| Ornadyne We're building robot birds for surveillance. | Defense | — | — | 75% |
| Radar Relay, LLC | Other Technology | Seed | $52.8M | 74% |
| HyLight Small unmanned hydrogen airships for long range monitoring | Robotics | — | — | 74% |
| Paladin Drones Inc. | Robotics | Series B | $77.1M | 73% |
See where Milliray sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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