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Erik Prince

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Prince-backed Swarmer rockets on Nasdaq debut with 520% surge
business24 days ago

Prince-backed Swarmer rockets on Nasdaq debut with 520% surge

Swarmer, a drone-software maker chaired by Erik Prince, surged about 520% on its Nasdaq debut after pricing at $5, opening at $12.50 and closing at $31, giving it a market value around $380 million. Prince joined Swarmer as chair in December 2025 and holds options to buy about 940,000 shares at $6.27, vesting over time and on revenue milestones. The company says its AI can control up to 690 drones per operator and its software has been used by Ukraine’s military since 2024. Swarmer posted roughly $310,000 in revenue for the year and a net loss of about $8.5 million. The IPO comes as the US shifts toward domestic drone production after policy steps curbing foreign-made drones, underscoring growing importance of drone tech in modern warfare.

via Financial Times|
#business#drones#erik-prince
Unplugged Launches Privacy-Focused UP Phone Made in the USA
technology8 months ago

Unplugged Launches Privacy-Focused UP Phone Made in the USA

Unplugged, co-founded by Erik Prince of Blackwater fame, has released a privacy-focused smartphone called UP Phone, with plans to manufacture it in the US later this year. The phone features privacy-centric hardware and software, including a hardware switch to disable power completely, and costs $989 with a subscription service. Despite its relaunch, the hardware remains similar to the original model, which was criticized as a scam.

via The Verge|
#erik-prince#made-in-usa#privacy-features
US tightens export controls on flight training for Chinese military pilots.
politics2 years ago

US tightens export controls on flight training for Chinese military pilots.

The US has added 43 entities, including Frontier Services Group and the Test Flying Academy of South Africa, to an export control list for training Chinese military pilots and other activities that threaten US national security. Companies on the list are restricted from receiving US exports for activities deemed contrary to US interests. The new listings include Frontier Services Group sites in China, Kenya, Laos and the United Arab Emirates; TFASA units in South Africa, China, the United Arab Emirates and the United Kingdom; and aerospace and defense conglomerate Aviation Industry Corporation of China (AVIC) entities in China and South Africa.

via Reuters|
#erik-prince#export-control#human-rights-abuses
US tightens export controls on flight training for Chinese military pilots.
politics2 years ago

US tightens export controls on flight training for Chinese military pilots.

The US has added 43 entities, including Frontier Services Group and the Test Flying Academy of South Africa, to an export control list for training Chinese military pilots and other activities that threaten US national security. Companies on the list are restricted from receiving US exports for activities deemed contrary to US interests. The new listings include Frontier Services Group sites in China, Kenya, Laos and the United Arab Emirates; TFASA units in South Africa, China, the United Arab Emirates and the United Kingdom; and aerospace and defense conglomerate Aviation Industry Corporation of China (AVIC) entities in China and South Africa.

via Yahoo News|
#erik-prince#export-control#human-rights-abuses