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NATO invests 1 billion euros in AI defense technology

2024-06-19 10:13:45Kosova&Bota SHKRUAR NGA REDAKSIA VOX

NATO invests 1 billion euros in AI defense technology

Investments in Europe's defense technology are intensifying as NATO on Tuesday confirmed its first deep technology investments as part of a €1bn fund aimed at addressing today's defence, security and sustainability challenges.

The North Atlantic Treaty Organization announced the fund in 2022, following Russia's invasion of Ukraine. The NATO Innovation Fund matches government technology buyers with start-ups to develop defense technologies. The first companies to receive the investment are European and include Germany's ARX Robotics, which designs unmanned robots, and three UK start-ups.

London-based computer chipmaker Fractile AI also received funding, as did Bristol-based iComat and Welsh start-up Space Forge, which makes new space materials. The fund has also invested in four venture capital funds that focus on deep technology: Join Capital, Vsquared Ventures, OTB Ventures and Alpine Space Ventures. Unlike most VCs, which invest over 10 years, the NATO fund will invest over 15 years.

NATO said it is also making investments to grow deep technology hubs in regions where capital for early-stage startups is in high demand to promote the Alliance's technological sovereignty. "With these investments, the Fund is now beginning to make a tangible difference to our innovation ecosystems, providing growth opportunities for the most promising dual-use and defense companies developing solutions to maintain the Alliance's technological edge," said David van Weel, Assistant Secretary General for Innovation, Hybrid and Cyber.

Van Weel said in 2022 that NATO's main challenge is to bridge the communication gap with innovators as the military is not always aware of the latest defense technologies and many innovators do not know what the military is looking for. The other issue is that "defense organizations and governments, in general, are not famous for having fast procurement processes," he said. "Our challenge is really to make sure we have a viable, agile way to communicate with innovators and bring new technologies to market at a significant speed," he added.

The fund aims to help advance innovation in new materials and manufacturing, artificial intelligence (AI) and robotics. NATO said it is also making investments to develop deep technology hubs in regions where capital for early-stage startups is in high demand to promote the Alliance's technological sovereignty. The NATO Innovation Fund is supported by 24 of the 32 NATO member states. The United States, Canada and France are members that have not agreed to support it.


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