Home Economy Economic Activity Vatn Systems raises $60M in Series A funding

Vatn Systems raises $60M in Series A funding

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PBN Staff

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12/15/2025

DEFENSE TECHNOLOGY company Vatn Systems of Portsmouth has closed a $60 million Series A funding round to advance its autonomous underwater vehicles for its military and commercial customers.

PORTSMOUTH – Defense technology company Vatn Systems Inc. has closed a $60 million Series A funding round to advance its autonomous underwater vehicles for its military and commercial customers. The funding round was led by Bravo Victor Venture Capital, with participation from new investors such as Hanwha, Geodesic Capital, Airbus Ventures, Dauntless Ventures, Trousdale Ventures,

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PORTSMOUTH – Defense technology company Vatn Systems Inc. has closed a $60 million Series A funding round to advance its autonomous underwater vehicles for its military and commercial customers. The funding round was led by Bravo Victor Venture Capital, with participation from new investors such as Hanwha, Geodesic Capital, Airbus Ventures, Dauntless Ventures, Trousdale Ventures, and Veteran Ventures Capital. Major existing investors also participated in the round, including DYNE Ventures, Propeller Ventures, Decisive Point Ventures, SAIC Ventures, Centre Street Partners, Cubit Capital, and Lockheed Martin Ventures. "Vatn Systems has built a significant competitive moat in the AUV market through their advanced navigation technology, modular platform, and scalable manufacturing approach," said Joe Musselman, managing partner at BVVC. "Rarely have we seen a company execute with this speed and precision to achieve these growth rates in just two years. Their ability to deliver affordable, multi-mission systems at scale addresses a critical capability gap, and we're proud to lead what we believe is the largest funding round in the AUV space." Founded in April 2023, Vatn Systems is a defense technology company that builds affordable modular autonomous underwater vehicles that can be deployed at scale for the U.S. military and allies. Bridging the gap between AUVs and torpedoes, Vatn’s design and in-house inertial navigation system enable precision delivery of a wide range of effects at ranges of almost 1,000 miles. Vatn vehicles use applied artificial intelligence to make real-time decisions, and the systems also use machine learning to enhance navigation algorithms. "Demand for affordable, scalable autonomous systems in undersea environments is accelerating rapidly," said Nelson Mills, co-founder and CEO of Vatn Systems. "This funding strengthens our position as the leader in deployable AUV technology and enables us to expand our team, accelerate R&D, and scale manufacturing to capture this growing demand and win critical contracts both domestically and internationally." In September, Vatn signed a contract with Singapore's Defence Science and Technology Agency and is continually working with the U.S. Navy and Marine Corps.