The Droneshield Ltd (ASX: DRO) share price is rocketing on Monday, up 9.7%.
Shares in the ASX tech company closed Friday trading for 31 cents. At the time of writing, shares are changing hands for 34 cents apiece.
Here's what ASX investors are considering today.
What's piquing ASX investor interest?
The DroneShield share price looks to be getting a lift today following an announcement (labelled non-price sensitive) regarding the company's DroneSentry-C2TM (Command & Control) platform.
The ASX tech share reported it has commenced the release of a major software update to the platform to its subscribed customers.
The update – the largest in the company's history – provides the next generation of the DroneShield Sensor Fusion engine, which was redeveloped using the latest techniques in fusion, Machine Learning and data driven development.
Commenting on the update that looks to be driving the DroneShield share price higher today, chief technology officer Angus Bean said:
We have taken the learnings from the past seven years to produce our next generation software platform that will offer major capability enhancement to our existing end users and provide new users a more intuitive and functional system.
Bean said the new Sensor Fusion approach will improve the accuracy of detection information and the response reaction time to potential threats while reducing the "cognitive burden" of the operator.
"A major differentiator of DroneShield is being both a sensor maker and a C2 (ecosystem) integrator," DroneShield CEO, Oleg Vornik said. "C2 is a pure software, subscription-based product, with corresponding attractive margins and which lends itself to a rapid scale up."
Vornik added:
The C2 is a gateway to customer experience as it is the front facing part of the system, and having a sophisticated system that is embedded with a wide range of end users, enables us to control the user experience without a third-party integrator overlay, and acts as a channel to sell more systems and sensors.
DroneShield share price snapshot
As you can see in the chart below, the DroneShield share price has been on a tear since mid-December. Over the past 12 months, the ASX tech stock is now up a whopping 111%.
