Emerging Defense March Recap

5 companies launch from stealth, 4 new companies tracked, $4B raised by 8 companies, $350M in VC funds raised

Summary

All data can be found on the Emerging Defense website here!

1. Mirai Robotics (maritime), Smack Technologies (AI), UFORCE (Ukrainian systems), Enigma (logistics), and Airbase (RF) all launch from stealth

2. Varindor (Digital Battlespace twin), Bandelier Technologies (Quantum), General Trajectory (Software), Inbiome (lab testing) added to Emerging Defense tracking

3. 8 companies raised over $4B, led by huge rounds from Saronic and Shield AI

4. Overmatch Ventures ($250M) and Aero X Ventures ($100M) announced new funds

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State of the Market

New defense tech company formation appears to have peaked in 2024, 2025 has begun to see a reversal back to 2023 levels

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Mirai Robotics rendering

Company Launches

1. Mirai Robotics:

   1. Building: Software + hardware for uncrewed autonomous surface vehicles

   2. Raised: $4.2M Pre-seed round led by Primo Ventures, Techshop, and 40Jemz Ventures, with participation from Italian and international angel investors

2. Smack Technologies:

   1. Building: A frontier AI lab for national security.

   2. Raised: $32M across a Seed Round (led by Point72 Ventures) and a Series A (led by Geodesic Capital and Costanoa Ventures)

3. UFORCE:

   1. Building: Conglomerate of Ukrainian defense systems

   2. Raised: $50M Seed Round at a $1BN valuation led by Shield Capital, Lakestar

4. Enigma:

   1. Building: Software-defined, autonomous logistics

   2. Raised: $2M Pre-Seed in 2024

5. Airbase:

   1. Building: Building the unified software platform for dynamic RF spectrum licensing, coordination, and intelligence

   2. Raised: $5M Seed round led by a16z with participation from Founders You Should Know, Squadra Ventures

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General Trajectory’s counter drone software

New Companies Added to Emerging Defense

1. Varindor

   1. Building: Real-Time Battlespace Digital Twin

2. General Trajectory

   1. Building: Reasoning models for robotics (YC Winter 2025 batch)

3. Inbiome:

   1. Building: Rapid clinical sample testing, raised a $16M Series A led by NATO Innovation Fund (NIF), Slingshot Ventures

4. Bandelier Technologies

   1. Building: Long-range quantum detection and imaging systems

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Shield AI’s VBAT systems

Funding Rounds

1. Vanguard Defense:

   1. Building: Automated labeling platform for custom defense data,

   2. Raised: $5M Seed Round with Champion Hill, First In, Boost VC

2. Nominal:

   1. Building: A connected software suite to test and operate hardware

   2. Raised: $80M Series B extesntion led by Founders Fund with participation from Sequoia, General Catalyst, Lux Capital, Lightspeed, Avenir, Haystack, Red Glass Ventures

3. Orqa:

   1. Building: Vertically integrated builder of FPV drones

   2. Raised: $14.7M Series A led by Expeditions Fund with participation from Aymo Ventures, Lightspeed, Radius Capital, Taiwania Capital

4. Isembard:

   1. Building: Franchising manufacturing with custom software

   2. Raised: $50M Series A led by Union Square Ventures with participation from Notion Capital, Tamarack Global, IQ Capital, CIV

5. Shield AI:

   1. Building: Fully autonomous aerial systems

   2. Raised: $2B growth round led by Advent International and JP Morgan with participation from Riot Ventures, Snowpoint VC, Apandion, InnovationX, Disruptive

6. Performance Drone Works (PDW):

   1. Building: Designs, engineers and manufacturers small unmanned systems

   2. Raised: $110M Series B led by Ondas with participation from Booz Allen Ventures, Cedar Pine, Hood River Capital Management, Hanwha

7. Sift:

   1. Building: A unified solution for ingesting, storing, and analyzing vast amounts of machine data

   2. Raised: $42M Series B in July and announced it this month. The round was led by StepStone Group with participation from CIV, Fika Ventures, Google Ventures, Riot Ventures

8. Saronic:

   1. Building: Autonomous ships and shipbuilding capability

   2. Raised: $1.75B Series D at a $9.25B valuation led by Kleiner Perkins with participation from Advent International, Bessemer Venture Partners, DFJ Growth, a16z, 8VC, Franklin Templeton, Elad Gil, Caffeinated Capital, BAM Elevate

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Fund Raises

1. Overmatch Ventures raised a $250M Fund II

2. AeroX Ventures announced the launch of its $100M Fund II

Thanks for reading!

— Emerging Defense Team (Scripps)