DroneShield shares have risen nearly 11 per cent in early morning trade after the drone detection company released an investor update.
The recently listed company says it continued to position itself as the incumbent in the fledgling drone security industry, and that its mid-term objective is an exit to a defence or civil defence industry player, electronics detection manufacturer or a large distributor.
DroneShield develops sensors and software to acoustically detect drones - a capability the company claims will become increasingly necessary with an estimated 12 million commercial drones expected to be in use by 2020.
The company listed in June at 20 cents a share, with the stock going as high as 30 cents on debut before falling back.
At 1034 AEST, DroneShield shares were up 2.5 cents, or 10.9 per cent, at 25.5 cents in a broadly flat Australian share market.
