Dual-Use Tech Roundup - Satellites, Propulsion Tech, Cybersecurity, Data Security, WiFi & 5G

31 May 2022 - Featuring Ubotica, Benchmark Space Systems, BEMO, SylLab Systems, Galgus & US Mobile

SpaceX - Tracking China’s Hypersonic Missiles

Editor’s Note:

Last chance to register for the New North Ventures’ webinar happening TODAY May 31st @11am ET featuring our Venture Partner, Rick Waddell. Rick previously served as the Deputy National Security Advisor to President Trump and also spent 17 years in Brazil as a CEO and Managing Director in the oil, gas, and mining industries. Join us for a fireside chat with him talking about Ukraine and Russia and why/what does it mean for tech and innovation. Grab your spot today using this registration link:  https://www.newnorthventures.com/events  

Deal Round-Up:

Ubotica: 🛰️

Ubotica has developed a semi-autonomous satellite system for data collection. These satellites leverage computer vision and machine learning to deliver real-time insights to their customers. The company raised €4 M ($4.28 M USD) of Seed funding in a deal led by Atlantic Bridge Capital on May 18, 2022. Seraphim Space Investment and Dolby Family Ventures also participated in the round. The funds will be put towards product development and team expansion.

Benchmark Space Systems: 🚀

Benchmark Space Systems has developed propulsion technology that integrates the thruster, propellant storage, and hardware into one compact system. The company raised $500 K in Venture funding from undisclosed investors on May 19, 2022 in the form of convertible notes. This follows a successful $8.5M Series A round of funding that closed in January of 2022 and was led by The Flying Object.

BEMO: 🔐

BEMO is a cybersecurity service provider that specializes in small to medium size businesses that utilize Microsoft Azure and Office 365. The company raised $3.5 M on May 17, 2022. The round was a combination of Debt, Seed, and Seed-1 funding and was led by Fulton Capital and Gula Tech Adventures. SaaS Ventures, Pleiade Venture, Revolution/ROTR, and other undisclosed investors also participated. The funds will be put towards automating the platform.

SylLab Systems: 📊

SylLab Systems has developed a data security platform that specializes in embedded compliance and enterprise data. The platform includes data mapping and protection, impact assessments, and compliance training management features. The company received $75 K in Grant funding from the Virginia Innovation Partnership on May 12, 2022. The company had previously raised a round of venture funding from the partnership as well.

Galgus: 🌐

Galgus has developed cognitive wireless networking technology which was designed to improve WiFi connections. The platform is hardware-agnostic and can be installed in a wide variety of WiFi devices. The company raised €4 M ($4.28 M USD) of Venture funding on may 19, 2022 in a deal led by GoHub Ventures, GED Capital, and Mundi Ventures. The funds will be used to finance the company’s growth and expand internationally.

US Mobile: 📱

US Mobile is a cell phone service provider that connects wireless devices to 4G and 5G networks. The company raised $31 M of Series A funding on May 16th, 2022 in a deal led by Volition Capital. The funds will be put toward accelerating innovation and for developing the company’s sales networks.

What We’re Reading:

• Protecting Critical and Emerging U.S. Technologies from Foreign Threats - The National Counterintelligence and Security Center 

• Artificial Intelligence and Machine Learning Explained - Steve Blank, Stanford University  

• Reboot: Framework for a New American Industrial Policy - Center for a New American Security

• Tracking China’s Hypersonic Missiles - After Moscow, Beijing Threatens To Neutralize America’s ‘Greatest Wartime Asset’ - The EurAsian Times 

• ‘Beam Me Up:’ Nation’s First Quantum Drone Provides Unrivaled Security - Florida Atlantic University