NATO's €1 billion Fund Invests in European Tech Companies for Defense Innovations
- NATO's Innovation Fund, supported by 24 member states, invests in European tech companies for defense and security solutions.
- The fund aims to address challenges in defense by investing in AI, robotics, and space technology.
- This investment signifies NATO's commitment to technological advancements for defense purposes.
The NATO Innovation Fund, supported by 24 NATO member states, invested in four European tech companies to address defense, security, and resilience challenges. The companies include Fractile, ARX Robotics, iCOMAT, and Space Forge. The fund was unveiled after Russia's invasion of Ukraine in 2022 and aims to enhance NATO's defenses. It has partnered with venture capital firms to further invest in deep tech on the continent. The fund also supports deep tech hubs in regions with high demand for early-stage startup capital. NATO's investment in defense technology is increasing, with a focus on new materials, AI, and robotics. The fund aims to bridge the communication gap between innovators and the military to bring in new technologies efficiently. The United States, Canada, and France are among the NATO member states that have not supported the fund.