Leading defense tech company strengthens position as the largest AUV manufacturer in the US with record-breaking funding round
Vatn Systems, a defense technology company building autonomous underwater vehicles (AUVs) for the US military, allied nations, and commercial customers, today announced it has raised $60 million in Series A funding, bringing total funding to $76.5M. The round was led by BVVC, with participation from new investors such as Hanwha, Geodesic Capital, Airbus Ventures, Dauntless Ventures, Trousdale Ventures, and Veteran Ventures Capital. Major existing investors also participated in the round, including DYNE Ventures, Propeller Ventures, Decisive Point Ventures, SAIC Ventures, Centre Street Partners, Cubit Capital, and Lockheed Martin Ventures.
"Vatn Systems is on a mission to become the next underwater defense prime in a world where autonomous systems dominate the naval battlespace,"
said Nelson Mills, co-founder and CEO of Vatn Systems.
"Demand for affordable, scalable autonomous systems in undersea environments is accelerating rapidly. This funding strengthens our position as the leader in deployable AUV technology and enables us to expand our team, accelerate R&D, and scale manufacturing to capture this growing demand and win critical contracts both domestically and internationally."
"Vatn Systems has built a significant competitive moat in the AUV market through their advanced navigation technology, modular platform, and scalable manufacturing approach,"
said Joe Musselman, Managing Partner at BVVC.
"Rarely have we seen a company execute with this speed and precision to achieve these growth rates in just two years. Their ability to deliver affordable, multi-mission systems at scale addresses a critical capability gap, and we're proud to lead what we believe is the largest funding round in the AUV space."
The Series A announcement follows significant momentum for Vatn Systems, including the company's first international contract win in Singapore. The company continues to deepen partnerships with the U.S. Navy and Marine Corps while expanding its global customer base.
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SOURCE Vatn Systems