COMPANY INFO
The actual company name is Vatn Systems. It was founded in 2023 by Nelson Mills, who is the CEO, along with key founding team members Geoff Manchester, Freddie Mills, and Dan Hendrix. The company has about 9 employees and is headquartered in Portsmouth, Rhode Island. Vatn Systems operates in the marine industry, specializing in building affordable autonomous underwater vehicles that operate in cooperative swarms. Their advanced navigation software is designed to work effectively in GPS, vision, and communications-compromised environments, enabling military and defense operators to perform missions efficiently with reduced hardware costs. The company website is https://www.vatnsystems.com.
Vatn Systems is a cutting-edge marine technology company founded in 2023 and headquartered in Portsmouth, Rhode Island. Specializing in the development of affordable, autonomous underwater vehicles (AUVs) that operate in highly coordinated swarms, Vatn Systems addresses critical military and defense sector needs. Their advanced navigation software allows these AUVs to function reliably in GPS-denied and communications-compromised environments, significantly enhancing mission efficiency while reducing hardware costs. With a core team of about nine employees and key founders including CEO Nelson Mills, the company is rapidly building a reputation for innovation in underwater robotics.
Vatn Systems funding has accelerated the company’s growth trajectory since its founding. As of October 2024, Vatn Systems has completed one major funding round, raising a total of $16.5 million in seed capital. This single round brought together a blend of top-tier strategic investors and venture capital, clearly demonstrating strong interest in Vatn Systems investment opportunities. The funding strategy centers on expanding Vatn’s core team, scaling manufacturing capabilities, and enhancing R&D for defense-related underwater vehicle deployments. This capital injection also marks the company’s entry into large-scale production and positions it as a formidable player in the marine robotics and defense market.
Vatn Systems’ initial seed round raised $16.5 million in October 2024. The purpose of this seed funding was to accelerate development and deployment of the company’s autonomous underwater vehicles for defense applications, expand the core engineering and operations team, and establish a new manufacturing facility capable of supporting volume production for US military and commercial contracts.
DYNE Asset Management served as the lead investor in Vatn Systems’ seed round, providing pivotal capital and strategic guidance to propel the company in its mission to advance underwater defense technology.
Lockheed Martin’s investment highlights Vatn Systems’ relevance to national defense, adding industry expertise, partnership opportunities, and validation from one of the world’s largest aerospace and defense companies.
In-Q-Tel’s participation underscores Vatn Systems’ alignment with emerging national security priorities. As a strategic investor focused on technology innovation for the intelligence and defense sectors, In-Q-Tel supports Vatn’s R&D and market access.
Beyond Capital contributed early-stage venture capital, supporting Vatn Systems investment in rapid prototyping and market entry.
Cubit Capital’s investment strengthens Vatn’s venture capital backing and supports the company’s efforts to expand engineering resources and product development initiatives.
Fortitude Ventures brings additional venture capital expertise and support for Vatn’s growth across defense and commercial marine markets.
Infinite Capital adds to the diversity of Vatn Systems investors, helping the company to secure the financial resources needed for scaling and future expansion.
Websets is a powerful natural language search and data enrichment tool that helps you discover comprehensive funding information for any company. Whether you're researching Vatn Systems funding rounds or exploring investment data for other companies, Websets provides detailed insights into funding history, investors, and financial milestones.
With Websets, you can access detailed funding profiles, investor information, and financial data through intuitive natural language queries. Sign up now to enhance your funding research capabilities.