A Cinematic Path to Drone Technology, Pioneering Victories for Our Portfolio Companies, Fundings: Privateer, Vertilite, ORB Aerospace
8 May 2024 - A Weekly Publication by New North Ventures
Don't miss our latest podcast episode featuring Brian Streem, the maverick CEO of Vermeer whose journey from Hollywood glitz to defense tech genius charts an unorthodox but impactful path.
In this episode, Brian recounts the highs, lows, and unexpected twists defining his entrepreneurial odyssey. From the hustle of Hollywood red carpets to the corridors of power in defense procurement, Brian's story offers a masterclass in resilience, adaptability, and the relentless pursuit of innovation. Brian also reveals the dramatic pivot that led him to tackle one of the most pressing challenges in modern warfare with Vermeer, his trailblazing software company.
It's a rollercoaster ride through the realms of creativity, innovation, and the relentless pursuit of excellence. Listen wherever you stream your podcasts or on Spotify below:
Hubble Network: Last week history was made with the first-ever Bluetooth connection directly to space. This remarkable achievement is poised to revolutionize IoT and global connectivity on an unprecedented scale. Read more here.
efabless: Cornell Custom Silicon Systems (C2S2) has forged a strategic partnership with Efabless, marking a significant milestone in the realm of undergraduate microchip design and fabrication. This collaboration, propelled by the vision of Aidan McNay and Professor Christopher Batten, leverages Efabless's expertise as a middleman with the domestic foundry SkyWater. Facilitating a streamlined process, Efabless orders limited chip runs, significantly reducing fabrication costs to a mere $10,000 per tape-out. This collaboration not only democratizes chip design but also underscores the transformative potential of hands-on experiential learning. Read more here.
Reality Defender: This week, Reality Defender won the RSA Conference 2024 Innovation Sandbox contest. With its industry-leading solutions, Reality Defender empowers enterprises, government agencies, and institutions to combat the proliferation of deepfakes and AI-generated content across various media formats, safeguarding against fraudulent activities and disinformation campaigns. This recent accolade not only solidifies Reality Defender's position as a frontrunner in the cybersecurity realm but also signifies a pivotal step towards combating the ever-evolving threat landscape posed by advanced AI technologies
Additionally, Reality Defender CEO Ben Colman recently testified in front of the United States Senate Subcommittee about the dangers of deepfakes. He showed how foreign adversaries are dangerous to the United States, as illustrated by the ease with which a manipulated image of an explosion at the Pentagon circulated online. Watch his testimony here.
U.S. Applies Private-Equity Fund Model to National Security Supply Chain
Stifel Financial's North Atlantic Capital, in collaboration with the Applied Science and Technology Research Organization of America (Astro America), has secured approval to raise a private-equity fund under the Small Business Investment Company Critical Technologies initiative.
This initiative, launched by the Department of Defense and the Small Business Administration, aims to attract private capital to technologies crucial to defense needs, such as additive manufacturing or 3-D printing. The fund aims to support small businesses critical to defense, aerospace, and energy supply chains, enhancing national security and readiness.
The initiative reflects a broader government strategy to harness private capital for developing new weapon technologies and agile suppliers. With a focus on bolstering U.S. supply chains, especially in response to the coronavirus pandemic and geopolitical tensions, equity investments offer patient capital to accelerate the adoption of critical technologies.
Quick Links:
Founded: 2021
Key People: CEO Alex Fielding
Elevator Pitch: A data infrastructure platform designed for sustainable growth of the new space economy.
Funding: The company raised $56.5 million of venture funding from undisclosed investors on May 6, 2024.
Founded: 2015
Key People: Founder Xiaochi Chen Ph.D
Elevator Pitch: An infrared VCSELs (vertical-cavity surface-emitting laser) designed to provide customized chip or package configuration.
Funding: The company raised CNY hundreds of millions of series C4 venture funding in a deal led by China Development Bank Capital on May 6, 2024.
Founded: 2017
Key People: CEO Alexander Taylor
Elevator Pitch: An electric aircraft designed to revolutionize the aviation sector.
Funding: The company is reportedly seeking $10 million series A of venture funding from undisclosed investors. Previously, the company raised $1.94 million of venture funding through the combination of options and warrants from undisclosed investors on May 3, 2024.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our most recent episode, general partner Jeremy Hitchcock sits down with Brian Streem, the maverick CEO of Vermeer, for an enlightened conversation about defense procurement, drones, and innovation.
