Vatn Systems Secures $13 Million in Seed Funding to Develop Autonomous Underwater Vehicles for US Defense
Vatn Systems, a defense technology firm developing autonomous underwater vehicles for the US military and allies, has secured $13 million in seed funding, totaling $16.5 million in capital. The funding round was led by DYNE Ventures with contributions from Lockheed Martin Ventures, RTX Ventures, In-Q-Tel (IQT), Propeller Ventures, SAIC Ventures, Cubit Capital, Fortitude Ventures, and existing investors such as Centre Street Partners, The Veteran Fund, Blue Collective, and Decisive Point.
"This funding allows us to proceed with our strategy to expand our team and establish a manufacturing facility to bring our autonomous underwater vehicles to market next year," said Nelson Mills, Co-Founder and CEO of Vatn Systems. Vatn Systems' modular autonomous underwater vehicles are designed to help customers deploy effects against undersea and surface targets. "Vatn's design and internal inertial navigation system enable precise delivery of various effects at ranges up to 1,000 miles," stated Vatn. "The company's navigation software is effective in environments compromised by GPS, vision, and communication challenges. Vatn vehicles use applied AI to make real-time decisions and leverage machine learning to improve navigation algorithms."
Founded in April 2023, Vatn Systems deployed its first drones within six months. The company is actively testing in military exercises with defense organizations including the US Navy and the US Marine Corps. "Autonomous underwater vehicles that operate in cooperative swarms in communication-limited environments could significantly impact sea domain missions," said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures. "The technology has potential applications beyond defense, such as law enforcement, aquaculture, and search and recovery, both in the US and among AUKUS partners," added Matthew Kibble, Co-Founder and Managing Partner of DYNE Ventures.
On April 16th, just a few days prior the announcement of their seed funding round, Vatn Systems announced a partnership with Palantir Technologies to enhance manufacturing capabilities.
The collaboration leverages Palantir’s software to digitize Vatn's manufacturing process and provide AI-driven insights, thereby accelerating AUV production for national security purposes. This partnership will enhance supply chain management efficiency and increase resilience. “Vatn is developing mission-critical capabilities that are supported by our software,” stated Louis Mosley of Palantir. “Our digital, AI-powered infrastructure will facilitate faster production of adaptable AUVs and bolster western deterrence.”
Vatn Systems has rapidly progressed from concept to deployment since April 2023, delivering AUVs in 17 months. They are testing with the U.S. Navy and have 12 vehicles deployed with more on order. This partnership is boosting production and modernizing underwater system manufacturing, aligning with AUKUS defense partnership goals.
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