Aquiline Drones Acquires ElluminAI Labs to Create Deep Learning Drones

Artificial Intelligence (AI) has gained increasing popularity across industries. Worldwide revenues for the AI market, including software, hardware, and services, are forecast to grow 40.2% annually, topping $997.77 billion by the end of 2028, according to a latest report by Grand View Research, an international consulting firm that helps Fortune 500 companies understand the global and regional business environment. Earlier, Connecticut-based Aquiline Drones Corporation (AD) announced the acquisition of ElluminAI Labs, LLC to support further development of its AI framework called Spartacus. This is AD's second strategic acquisition in the company's pre-IPO plan. It was just last month that AD completed the purchase of 50% of Netherlands-based AerialTronics, a renowned drone manufacturer, for $9.0M USD from Paris-based Drone Volt (ALDRV).