The North Atlantic Treaty Organization (NATO) announced that it will invest in four European technology companies.
The investment in European defense technology intensifies after NATO confirmed on Tuesday its first investments in cutting-edge technology as part of a €1 billion fund to address current defence, security and resilience challenges.
The North Atlantic Treaty Organization announced the fund in 2022, following the Russian invasion of Ukraine. The NATO Innovation Fund connects government buyers of technologies with start-ups to develop defense technologies.
The first companies to receive the investment are European and include the German company ARX Roboticswhich designs unmanned robots, and three UK start-ups.
The London manufacturing company computer chips Fractile has also received funding, as have Bristol-based iComat and Welsh start-up Space Forge, which makes novel space materials.
The fund has also invested in four venture capital funds focused on deep tech: Join Capital, Vsquared Ventures, OTB Ventures and Alpine Space Ventures. Unlike most venture capital funds, which invest for 10 years, the NATO fund will invest 15 years from now.
NATO said it is also doing investments to boost deep technology centers in regions where capital for early-stage startups is in high demand to promote the Alliance’s technological sovereignty.
“With these investments, the Fund is beginning to mark a tangible difference in our innovation ecosystemsproviding growth opportunities to the most promising dual-use and defense companies that develop solutions to maintain the Alliance’s technological advantage,” he said in a statement. David van Weel, Undersecretary General for Innovation, Hybrids and Cyber.
Van Weel told ‘Euronews Next’ in 2022 that NATO’s main challenge is bridge the communication gap with innovatorssince the military is not always aware of the latest defense technologies and many innovators don’t know what the military needs.
The other issue is that “defense organizations and governments, in general, are not known for having fast acquisition processes,” he said.
The objective of the fund is contribute to the advancement of innovation in new materials and manufacturing, artificial intelligence (AI) and robotics. NATO said it is also investing in the development of advanced technology centers in regions where capital for early-stage startups is scarce. Regions where there is a high demand for capital for early-stage startups, in order to promote the technological sovereignty of the Alliance.
He NATO Innovation Fund It is supported by 24 of the 32 member states of the Alliance. United States, Canada and France They are members who have not agreed to support him.
