Vatn Systems Raises $13M for AUV Development

Vatn Systems, a Portsmouth, RI-based defense technology firm, has successfully raised $13 million in Seed funding, increasing its total funding to $16.5 million. The funding round, led by DYNE Ventures along with notable participants such as Lockheed Martin Ventures and RTX Ventures, aims to enhance the company's development of autonomous underwater vehicles (AUVs) for the U.S. military and allies. These vehicles utilize applied AI and machine learning for real-time decision-making and navigation. CEO Nelson Mills emphasized the company's goal to redefine naval warfare with low-cost, high-speed AUVs that serve as force multipliers. Vatn Systems is currently engaged in military exercises with the U.S. Navy and Marine Corps, demonstrating their technology's practical applications. The new funding will assist in expanding operations and setting up a manufacturing facility for upcoming market launches.