NATO-backed €1B fund invests to boost AI, robotics and space tech
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The NATO Innovation Fund has awarded the first tranche of companies money under its €1B (about $1.1) fund to help advance innovation in novel materials and manufacturing, AI and robotics.
The NATO Innovation Fund, or NIF, has directly invested in four European tech companies, to help address challenges in defense, security, and resilience.
The Fund’s direct investments include: ARX Robotics, which makes scalable robotic systems for mass deployment in defense, commercial and humanitarian applications; Fractile, an AI company developing a new computing technology to enable neural networks of today and tomorrow to run faster, more efficiently and sustainably.
The other two companies are: iCOMAT, composite manufacturing company which makes lighter, stronger and sustainable structures for aerospace and automotive vehicles, cost-effectively; Space Forge, which uses the space environment to make advanced semiconductor materials for critical infrastructure.
“Today, 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, NATO Innovation Fund.
In addition, the Fund noted that it is backing venture capital firms which invest in early-stage deep tech with a focus on civilian, defense, security and resilience markets.
The Fund has partnered with venture capital firms Alpine Space Ventures, OTB Ventures, Join Capital and Vsquared Ventures.
Out of NATO’s 32 member nations, the Fund is backed by 24 NATO allies including, the U.K., Finland, which joined the group last year, and Sweden, which became part of the alliance in April this year.
