Home Industry Defence Technology Gecko Robotics raises $100 mil...

Gecko Robotics raises $100 million for Series C expansion

Defence Technology

Gecko Robotics raises $100 million

A $100 million Series C extension was recently raised by Gecko Robotics, a company that develops robots to assess the security and condition of critical infrastructure.

In a Series C extension, Gecko Robotics, a company that builds robots to evaluate the security and state of vital infrastructure, recently raised an additional $100 million.

Prominent investors, the US Innovative Technology Fund and the Founders Fund, spearheaded the recent capital infusion and will each hold board seats.

This deal is the most significant to benefit a defense tech startup, as venture capitalists appear to be growing more receptive to the space. Venture capital has generally shunned defense technology for a number of reasons, including moral and ethical objections. Nevertheless, rocket propulsion firm Ursa Major recently announced last week that it has raised an additional $38 million to its previously disclosed $100 million Series D, increasing its total funding for Series D and D-1 to $138 million. Defense and aerospace firm Shield AI secured a whopping $200 million Series F in October, valued at $2.7 billion.

According to data, military tech numbers are still lower than they were a year ago, despite the recent surge. Less than $2.2 billion was invested in defense tech businesses in the United States last year. Less than $700 million has been invested in these startups overall this year.

But if current patterns hold true, 2024 might be a significant year for the industry.

Business News

Recommended News

Latest Magazine