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Dual-Use Tech Roundup - Venture Capital, Flight, Cybersecurity & AI
21 March 2022 - Featuring Shield Capital, Hermeus, Cybersixgill, Silent Eight, Axonius & Attivo Networks
As we enter week four of the Russian invasion into Ukraine, we remain optimistic about the peace that the world has seen for the past 75 years. We are reminded that intelligence was able to prepare us for the events of today and to give our leaders preparation and better options to bring this conflict to a conclusion. We are also reminded that superior leadership and capability in any battlefield (military or business) results in success.
VC Fund Updates:
Shield Capital is a VC fund that invests in “company founders building technology that matters.” The fund is headquartered in San Francisco and specializes in Cybersecurity, AI, Space, and Autonomous technology. This past week the fund finished raising $125 M to invest in dual-use companies. The investment team includes partners with a mix of military connections and VC experience. The fund’s portfolio companies include Hawkeye 360, Airspace Intelligence, Rebellion Defense, and others. Congrats to them!
Hypersonic jet startup, Hermeus, is hoping to make air travel faster and safer. The company raised $100 M on March 10th, 2022 in a round led by Sam Altman. Other investors include Peter Thiel, Kholsha Ventures, Revolution, Bling Capital, Canaan Partners, and In-Q-tel. The company had previously raised a $60 M round in August of 2021 which included participation from the Air Force Research Lab (AFRL). Both In-Q-tel and AFRL were featured in the NNV newsletter focused on non-dilutive government funding. This new round of funding will go towards completing the development of the company’s first Quarterhouse jet and to begin flight testing.
Cybersecurity company, Cybersixgill, uses advanced algorithms to monitor and identify patterns of behaviors that may indicate cyber threats and attacks. This threat intelligence portal can be used to analyze and predict activity on the dark web. The company raised a $50 M Series B round of funding on March 10th, 2022. This round was led by REV Ventures Partners and More Provident funds. The company plans to use the funds to continue to develop their solutions and expand its global footprint.
Silent Eight has developed an AI based cyber security software platform to help safeguard financial institutions. The company raised $40 M of Series B funding on March 10th, 2022. This round was led by HSBC Strategic Innovation Investments and TYH Ventures. The company plans to hire 150 new data scientists after this round in order to expand the technology functions of the platform.
Axonius has developed a cybersecurity asset management platform that protects connected devices utilized by businesses. The company raised $200 M in Series E funding on March 8th, 2022. The round was led by Accel and several different VC funds participated including: Silver Lake, Lightspeed Venture Partners, Alta Park Capital and others.
Attivo Networks operates a cyber security platform that provides real-time threat detection for their customers. The platform has applications in public and private data centers, Industrial Control Systems (ICS), point of sale environments, and other industries. The company reached a deal to be acquired by Sentinel One (NYS: S) for $615.5 M on March 15th, 2022.
What We’re Reading:
NATO Wants to Avoid Getting Dragged Into a War With Russia by Mistake - Bloomberg Business
Balancing Acts by Daniel Lamarre, UNLEASHING THE POWER OF CREATIVITY IN YOUR LIFE AND WORK
A future defense triad: A new deterrence strategy for the 21st century | American Enterprise Institute - AEI - biological threats, information warfare, and advanced munitions - deterrence by denial
Russia says its businesses can steal patents from anyone in ‘unfriendly’ countries - The Washington Post