Autonomous Horizons and Strategic Defense, Fundings: HavocAI, STR (Aerospace and Defense), Picus
25 September 2024 - A Weekly Publication by New North Ventures
We at New North Ventures are excited to join HavocAI in their $11 million Seed round, alongside an impressive group of investors, including Scout Ventures, Trousdale Ventures, Outlander VC, The Veteran Fund, BV.VC, Decisive Point, and Alumni Ventures. HavocAI’s groundbreaking autonomous uncrewed surface vessel (USV) technology is set to transform both defense and commercial industries by enabling ultra low-cost operations at scale.
This investment aligns perfectly with our commitment to advancing dual-use technologies that bolster national security and commercial innovation. We look forward to supporting HavocAI as they scale production, enhance product development, and continue pushing the boundaries of USV technology.
US Drone Makers, Officials Visit Taiwan on Mission to Secure Supply Chain
A delegation of 26 American drone manufacturers, including AeroVironment, visited Taiwan to explore potential partnerships and establish a secure supply chain for uncrewed systems.
The delegation, accompanied by officials from the US Departments of Commerce and Defense, held policy discussions with Taiwanese manufacturers, military representatives, and key defense institutions, such as the National Chung-Shan Institute of Science and Technology.
This visit is part of Washington’s broader strategy to reduce reliance on China's supply chain, aiming to forge collaborations with Taiwan in the areas of defense, security, and critical infrastructure. The trip aligns with Taiwan's efforts to bolster its defense capabilities amid rising tensions with Beijing. The island nation is aiming to produce 15,000 drones per month by 2028 as part of its asymmetric warfare strategy.
US defense contractors, including Northrop Grumman and Dedrone, are exploring business opportunities in Taiwan, while AeroVironment has already secured a contract to deliver 720 Switchblade 300 drones to Taiwan. These efforts are part of the US and Taiwan's joint initiative to counter China's growing military and technological dominance.
More Links to Explore:
Founded: 2024
Key People: CEO
Elevator Pitch: Small uncrewed surface vessels intended to offer protection
Funding: The company raised $12.23 million of seed funding in a deal led by Scout Ventures and Trousdale Ventures on September 16, 2024. Outlander VC and 5 other investors also participated in the round.
Founded: 2010
Key People: CEO Mark Luettgen
Elevator Pitch: A national security-focused technology firm intended to provide innovative technology-based solutions for defense, intelligence, and homeland security problems.
Funding: The company raised $120 million of debt financing on August 18, 2024.
Key People: CEO Hamdi Alper MemiÅŸ
Founded: 2013
Elevator Pitch: A cybersecurity software designed to offer a holistic approach to information technology security.
Funding: The company raised $45 million of Series C venture funding in a deal led by Riverwood Capital on September 19, 2024, putting the company's pre-money valuation at $200 million.
Look for a new episode of the Securing the Future Podcast wherever you listen. In our most recent episode, general partner Jeremy Hitchcock sits down with Hector Xu, founder and CEO of Rotor AI, to discuss the groundbreaking technology behind converting traditional helicopters into autonomous drones for both civilian and defense applications.
