Vatn Systems, a Portsmouth, RI-based defense technology company building autonomous underwater vehicles for the US military and allies, raised $13M in Seed funding.
The round, which brought the total amount to $16.5M, was led by DYNE Ventures with participation from Lockheed Martin Ventures, RTX Ventures, In-Q-Tel (IQT), Propeller Ventures, SAIC Ventures, Cubit Capital, Fortitude Ventures and existing investors that included Centre Street Partners, The Veteran Fund, Blue Collective, and Decisive Point.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Nelson Mills, Vatn Systems is a defense technology company building autonomous underwater vehicles that can be deployed at scale for the US military and allies. Vehicles use applied AI to make decisions in real-time, and the systems also leverage machine learning to enhance navigation algorithms.
The company is actively testing in military exercises with key defense organizations including the U.S. Navy and Marine Corps.
