NATO $1.1 bn Innovation Fund Announces First Investments in European Tech Firms

A consortium of NATO allies has confirmed the initial tranche of companies awarded funding as part of the group’s €1 billion ($1.1 billion) innovation fund. On Tuesday, the NATO Innovation Fund (NIF) announced its investment in four European tech companies, aimed at addressing challenges in defense, security, and resilience.

Nato defence expenditureThe NIF allocated funding to Fractile AI, a London-based computer chipmaker focused on accelerating large language models (LLMs) like those that power ChatGPT. Additionally, Germany’s ARX Robotics, which designs unmanned robots for heavy-lifting and surveillance tasks, was selected for funding.

The other two startups receiving investments are British manufacturer iCOMAT, which produces lighter materials for vehicles, and Space Forge, a Welsh company utilizing space conditions—such as microgravity and vacuum environments — to build semiconductors in-orbit.

Andrea Traversone, the fund’s managing partner, emphasized the strategic importance of these investments, stating, “Enabling access to strategic technologies is key to securing a safe and prosperous future for the alliance’s one billion citizens.”

In addition to direct investments, the NIF has partnered with venture capital firms Alpine Space Ventures, OTB Ventures, Join Capital, and Vsquared Ventures to bolster further investment in deep tech across Europe.

The NATO Innovation Fund was unveiled in the summer of 2022 with a commitment to invest in technologies enhancing the alliance’s defenses. The fund is supported by 24 of NATO’s 32 member states, including recent members Finland and Sweden.

Related News

Latest News

Latest News