image credit: nato.int
NATO partners have announced the first recipients of their one billion euro ($1.1 billion) innovation fund.
The alliance announced the fund in summer 2022, months after the Russian invasion of Ukraine, to invest in defense technologies. 24 of NATO’s 32 members, including Finland and Sweden, which joined this year, support the fund.
The NATO Innovation Fund (NIF) said on Tuesday that it had directly invested in four European tech businesses to address defense, security, and resilience issues.
The body has funded Fractile AI, a London-based computer chipmaker that aims to speed up large language models (LLMs) like ChatGPT, and Germany’s ARX Robotics, which creates unmanned robots for heavy lifting and surveillance.
Two additional businesses were the British firm iCOMAT, which makes lighter vehicle materials, and the Welsh company Space Forge, which builds semiconductors in space using microgravity and vacuum.
“Enabling access to strategic technologies is key to securing a safe and prosperous future for the alliance’s one billion citizens,” said fund managing partner Andrea Traversone.
The fund also works with Alpine Space Ventures, OTB Ventures, Join Capital, and Vsquared Ventures to invest in deep tech on the continent.
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