The first round of enterprises to get cash from NATO's one billion euro ($1.1 billion) innovation fund has been recognised by a coalition of the group's members.
Months after Russia invaded Ukraine, in the summer of 2022, the alliance revealed the fund and pledged to invest in defense-enhancing technology. Of the 32 nations that make up NATO, 24 of them—including Finland and Sweden, who joined the alliance earlier this year—support the fund.
The NATO Innovation Fund (NIF) said on Tuesday that it has made direct investments in four European technology businesses, claiming that this will aid in addressing military, security, and resilience concerns.
The body has given financing to Germany's ARX Robotics, which creates autonomous robots that can do tasks like heavy lifting and surveillance, and to Fractile AI, a London-based computer chipmaker that aims to speed up large language models (LLMs) like those that power ChatGPT.
The other two businesses were Space Forge, a Welsh business that uses space conditions, such as microgravity and vacuum, to create semiconductors in orbit, and British firm iCOMAT, which produces lighter materials for automobiles.
The managing partner of the fund, Andrea Traversone, stated that "securing a safe and prosperous future for the alliance's one billion citizens" requires enabling access to crucial technology.
From Apple's comeback to the Pope's views on bots,
In order to encourage more deep tech investment on the continent, the fund has also teamed with venture capital companies Alpine Space Ventures, OTB Ventures, Join Capital, and Vsquared Ventures.
(Source:www.investing.com)
Months after Russia invaded Ukraine, in the summer of 2022, the alliance revealed the fund and pledged to invest in defense-enhancing technology. Of the 32 nations that make up NATO, 24 of them—including Finland and Sweden, who joined the alliance earlier this year—support the fund.
The NATO Innovation Fund (NIF) said on Tuesday that it has made direct investments in four European technology businesses, claiming that this will aid in addressing military, security, and resilience concerns.
The body has given financing to Germany's ARX Robotics, which creates autonomous robots that can do tasks like heavy lifting and surveillance, and to Fractile AI, a London-based computer chipmaker that aims to speed up large language models (LLMs) like those that power ChatGPT.
The other two businesses were Space Forge, a Welsh business that uses space conditions, such as microgravity and vacuum, to create semiconductors in orbit, and British firm iCOMAT, which produces lighter materials for automobiles.
The managing partner of the fund, Andrea Traversone, stated that "securing a safe and prosperous future for the alliance's one billion citizens" requires enabling access to crucial technology.
From Apple's comeback to the Pope's views on bots,
In order to encourage more deep tech investment on the continent, the fund has also teamed with venture capital companies Alpine Space Ventures, OTB Ventures, Join Capital, and Vsquared Ventures.
(Source:www.investing.com)