"One of those companies is HavocAI, a Rhode Island-based startup that demonstrated its autonomous vessels just last summer and is already selling boats to the U.S. military and its allies. HavocAI closed an $85 million venture funding round at the end of September so that it can be prepared to manufacture thousands of autonomous boats and incorporate its autonomous tech stack into new types of vessels at a moment's notice, its CEO and cofounder, Paul Lwin, tells Fortune."
"This most recent round-which included the venture capital firms B Capital, Up.Partners, Scout Ventures, and Outlander Ventures; the CIA's venture capital arm, In-Q-Tel; defense behemoth and strategic partner Lockheed Martin; and Taiwan's public and private venture capital fund, Taiwania Capital-will position the startup to compete for a piece of the more than $3.3 billion that the new legislation set aside specifically for the development of medium and small unmanned surface vessels."
HavocAI, a Rhode Island startup, demonstrated autonomous vessels last summer and sells boats to the U.S. military and allies. The company closed an $85 million venture round to prepare to manufacture thousands of autonomous boats and integrate its autonomous tech stack into new vessel types. Investors included B Capital, Up.Partners, Scout Ventures, Outlander Ventures, In-Q-Tel, Lockheed Martin, and Taiwania Capital. The funding boosts HavocAI's total to nearly $100 million since January. The new U.S. reconciliation law earmarks more than $3.3 billion for medium and small unmanned surface vessels, creating large procurement opportunities. HavocAI emphasizes manufacturing speed and affordability.
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