NATO Allies Award First Batch of Companies in $1.1 Billion Innovation Fund

NATO Allies Award First Batch of Companies in $1.1 Billion Innovation Fund

NATO allies have confirmed that the first batch of companies has been awarded as part of the $1.1 billion innovation fund, targeting the fields of AI, robotics, and space technology. The fund, backed by 24 of the 32 NATO member states, aims to fortify security, defense, and resilience.

The NATO Innovation Fund (NIF) recently announced investments in four tech companies in Europe, including Fractile, a chipmaker specializing in large language models, and ARX Robotics, a German company designing unmanned robots for surveillance and heavy lifting.

Additionally, iCOMAT, a pioneer in light materials for automobiles, and Space Forge, a Welsh aerospace and defense company building semiconductors for space use, were also awarded funding. These investments are expected to enhance collective AI capabilities and push the boundaries of manufacturing novel materials.

Andrea Traversone, the fund’s managing partner, emphasized the importance of enabling access to strategic technologies for the alliance’s one billion citizens. The fund has also partnered with OTB Ventures, Alpine Space Ventures, Vsquared Ventures, and Join Capital to support investments in deep tech.

Klaus Hommels, Chair of the NATO Innovation Fund, praised the investment team for reaching this significant milestone, stating that the initial portfolio of investments exemplifies NIF’s mission to advance defense, security, and resilience across the NATO Alliance. Congratulations to the companies awarded and the fund’s commitment to promoting dual-use ecosystems in Europe and the UK.