LONDON: A consortium of NATO allies has announced the first group of companies awarded funding as part of the alliance’s €1 billion ($1.1 billion) innovation fund. This fund, introduced in the summer of 2022 following the Russian invasion of Ukraine, aims to invest in technologies that will bolster NATO’s defenses.
Backed by 24 of NATO’s 32 member states, including new members Finland and Sweden, the NATO Innovation Fund (NIF) confirmed investments in four European tech companies on Tuesday. These investments are intended to enhance defense, security, and resilience.
The funded companies include:
- Fractile AI: A London-based computer chipmaker focused on accelerating large language models (LLMs) such as those powering ChatGPT.
- ARX Robotics: A German company designing unmanned robots for various functions, including heavy-lifting and surveillance.
- iCOMAT: A British manufacturer producing lighter materials for vehicles.
- Space Forge: A Welsh company leveraging space conditions, like microgravity and vacuum, to manufacture semiconductors in orbit.
Andrea Traversone, managing partner of the fund, emphasized the importance of access to strategic technologies for ensuring a safe and prosperous future for the alliance’s one billion citizens.
Additionally, the fund has partnered with venture capital firms Alpine Space Ventures, OTB Ventures, Join Capital, and Vsquared Ventures to support further investment in deep tech across Europe.
