TECH - NATO Pours $1.1B Into These Four Defence And Space Tech Startups That Make Chips Unmanned Robots And More | Benzinga
In a recent development, four European tech firms have been selected as the first beneficiaries of the €1 billion ($1.1 billion) innovation fund set up by a consortium of NATO allies.
What Happened: The NATO Innovation Fund (NIF) was initiated in 2022 in response to Russia’s aggression towards Ukraine. The fund, supported by 24 out of 32 NATO members, is designed to strengthen the alliance’s defenses via tech investments.
The NIF has backed four European tech firms to tackle defense, security, and resilience issues. The beneficiaries include London’s Fractile AI, a computer chipmaker, and Germany’s ...