REUTERS
A consortium of NATO allies in June 2024 confirmed the first tranche of companies awarded funding as part of the group’s $1.1 billion innovation fund, and artificial intelligence and space innovation were listed as key priorities.
The alliance unveiled the fund in the summer of 2022, months after the Russian invasion of Ukraine, promising to invest in technologies that would enhance its defenses. The fund is backed by 24 of NATO’s 32 members, including Finland and Sweden, which joined the alliance in 2023 and 2024, respectively.
One company NATO is investing in is Space Forge, a Welsh company that harnesses the conditions of space — such as microgravity and vacuum conditions — to build semiconductors on orbit. “Enabling access to strategic technologies is key to securing a safe and prosperous future for the alliance’s 1 billion citizens,” said Andrea Traversone, the fund’s managing partner.
The NATO Innovation Fund confirmed it had directly invested in Space Forge and three other European technology companies to address challenges in defense, security and resilience. The body also allocated money to Fractile, a London-based computer chipmaker aiming to make large language models — like those that power ChatGPT — run faster, as well as Germany’s ARX Robotics, which designs unmanned robots with functions ranging from heavy lifting to surveillance.
The fund also is investing in British manufacturer iCOMAT, which makes lighter materials for vehicles. The fund has also partnered with venture capital firms Alpine Space Ventures, OTB Ventures, Join Capital and Vsquared Ventures to support further investment in deep tech on the continent.