NATO $1B Innovation Fund Makes First Investments

NATO's Innovation Fund invests in companies pioneering dual-use tech for defense and security

Ben Wodecki, Junior Editor - AI Business

June 24, 2024

2 Min Read
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NATO has announced inaugural investments from its $1 billion Innovation Fund, targeting companies pioneering AI and robotics technologies to enhance defense and security.

ARX Robotics, a German company building autonomous mobile robots for defense and commercial applications, is among the first to receive funding from the NATO Innovation Fund. 

ARX’s modular robots such as the Gereon UGV can be used for various defense applications, including reconnaissance and evacuating wounded personnel. Its commercial Gereon bots, meanwhile, can be used in logistics, carrying cargo and freight, or as automated security units, autonomously patrolling commercial sites.

London-based chip developer Fractile also received funding. The startup is designing chips optimized for running large-scale neural networks and large language models

“We are proud to share that we have invested in innovative solutions that can help address some of our greatest challenges and boost growth, strengthening the defense, security and resilience of our nations for generations to come,” said Andrea Traversone, managing partner of NATO’s Innovation Fund.

NATO has also provided support to British companies iCOMAT, which creates lightweight manufacturing materials for aerospace and automotive vehicles and Space Forge, which manufactures materials for semiconductors suitable for use in space deployments.

Related:NATO Issues Quantum Technologies Strategy

“Congratulations to NIF’s investment team on reaching this significant milestone,” said Dr. 

“This initial portfolio of investments exemplifies the NATO Innovation Fund’s mission to advance defense, security and resilience and promote the development of dual-use ecosystems across the NATO Alliance,” said Klaus Hommels, the NATO Innovation Fund’s chair.

NATO established the fund in 2022 with contributions from 24 of its 32 member states, along with partner venture capital firms including Alpine Space Ventures, OTB Ventures and Vsquared Ventures.

“Europe’s deeptech sector, powered by a rich talent pool, is poised to tackle global challenges through advanced technologies. Investing in deeptech requires time and skills but brings tremendous opportunities,” said Adam Niewinski, co-founder and managing partner of OTB Ventures. “The founding of the NATO Innovation Fund underscores the vital role of these investments and brings the know-how to take them to new markets and use cases.”

About the Author(s)

Ben Wodecki

Junior Editor - AI Business

Ben Wodecki is the junior editor of AI Business, covering a wide range of AI content. Ben joined the team in March 2021 as assistant editor and was promoted to junior editor. He has written for The New Statesman, Intellectual Property Magazine, and The Telegraph India, among others.

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