Emerging Defense Weekly #7

$72.5m raised, New North closes a $45m fund, and a new power prime

Overview

1. Chariot Defense came out of stealth to provide power to all the new power hungry defense tech systems

2. 3 more companies added to Emerging Defense (Regent, Perseus Defense, Pyrrhus Aeronautics)

3. Firestorm Labs nabs $47m in a Series A to fund its drone + edge manufacturing platform

4. Government contracting software remains hot with Vultron’s $17m Series A

5. New North Ventures closed the first $45m of their Fund II

All Defense Tech data can be found on the Emerging Defense website.

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Regent’s Seaglider

New Companies + Launches

1. Chariot Defense: Building physical and digital power architecture, came out of stealth with an $8m seed round led by General Catalyst and XYZ Ventures with backing from Cubit Capital, Forward Deployed VC, Ravelin Capital, New Vista Capital, Brave Capital, and D3 VC and Pax Ventures

2. Regent: Building sea gliders with 1,400 nautical mile range, announced their expansion for DoD customers at Reindustrialize

3. Perseus Defense: A YC Summer 2025 company, they are building micro missiles for cUAS purposes.

4. Pyrrhus Aeronautics: Building micro drones

5. Swarmer: AI Based Mission Control for coordinated drones

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Firestorm’s expeditionary manufacturing cell

Last Weeks Funding Rounds

1. Firestorm Labs: Building drones and expeditionary manufacturing cells to supposed them, raised a $47m Series A. $35m equity and $12m of venture debt, the round was led by NEA with Decisive Point, Washington Harbour Partners, and Booze Allen Ventures also participating.

2. Vultron: Building an AI-Native Operating System designed to help federal contractors accelerate and scale proposal development. They raised a $17m Series A led by Greycroft with continued backing by Craft Ventures, Long Journey Ventures, South Park Commons, and Conviction Capital.

3. Droneforge: Building deployment of autonomy on any drone, raised a $2.5m pre-seed led by Outlander with participation from First In Capital, Tofino Capital, and Shor Capital

4. Overwatch Imaging: Building airborne imaging solutions, raised $6m in new funding led by Squadra Ventures with participation from SEMCAP AI, Elevate Oregon, and Edo Capital. Overwatch had previously raised an $11.2m Series A in April of 2022.

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New Funds Closed

1. New North Ventures announced the first close of its second fund with $45m committed, partnering with the SBA through the SBICCT initiative

Thanks for reading!

— Emerging Defense Team (Scripps)