Happy Thanksgiving, Fundings: Rosotics, Abyss, DeGirum
23 November 2022 - A Weekly Publication by New North Ventures
Happy Thanksgiving from everyone at New North Ventures.
Founded: 2019
Key People: Founded by Christian LaRosa
Elevator Pitch: Heavy industry 3D printing technology designed to simplify large-scale production for aerospace and defense.
Funding: The company raised $750,000 of seed funding in a deal led by Draper Associates on November 22, 2022. Vibe Cap, Correlation Ventures and Sequoia Capital also participated in the round.
Founded: 2014
Key People: Co-founded by Nasir Ahsan Ph.D, Hina Ahsan, Masood Naqshbandi, and Abraham Kazzaz Ph.D
Elevator Pitch: Robotics and artificial intelligence-based software designed to improve the safety of critical underwater infrastructure.
Funding: The company raised AUD 15 million of Series A venture funding in a deal led by AirTree Ventures on November 21, 2022.
Founded: 2017
Key People: Co-founded by Winston Lee and Shashi Chilappagari
Elevator Pitch: AI solutions company developing hardware & software infrastructure intended to accelerate the adoption of AI at the edge
Funding: The company raised $7.25 million of venture funding in the form of convertible debt from undisclosed investors on November 18, 2022.
Why Dual-Use and Defense Technologies are the Next Growth Sectors
The return of great power competition has demonstrated the geopolitical importance of technological dominance.
Technological advances in sectors like space indicate that access is democratizing. Once reserved for government development, commercial constellation growth now outpaces government.
The Colonial Pipeline cyberattack, Russia’s invasion of Ukraine, Covid, and technological competition with China, have injected a security consciousness within the corporate board room.
The increase in private capital being deployed in dual-use and defense related capabilities is spurring innovation and the proliferation of defense-minded funds injects expertise into the technology community on how to sell to DoD, take advantage of grants, and scale sustainably.
The U.S. must reduce its reliance on China - 78% of our rare earth imports, 62% of our electronics imports, and up to 50% of our lithium-ion battery imports come from our greatest rival.
Reshoring American industry is not enough. Pairing reshoring efforts with the development of new technology will result in a more productive labor force and cost-efficient manufacturing process.
Offshoring has been historically, economically incentivized with the increase of free trade and options for cheap labor markets in China and the developing world. This has led to a significant reliance on Chinese labor for manufacturing and supply chains.
The U.S. has a strong entrepreneurial and innovative history - channeling this advantage through our workforce will secure the future of our industrial base and ensure our economic competitive edge.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our latest episode we have guest Laura Thomas of ColdQuanta, sit down with General Partner Brett Davis for an engaging conversation on the future of quantum and national security. Listen below on Spotify.
