The military alliance invests in companies that can provide technology to ensure the security of member countries

A group of NATO allies (North Atlantic Treaty Organization) revealed this Tuesday (June 18, 2024) that companies received part of an innovation fund created by the group in 2022. The fund, valued at 1.1 billion of dollars, aims to boost the development of technologies that strengthen the defensive capabilities of member states.

The initiative was called NIF (NATO Innovation Fund). It is supported by 24 of NATO’s 32 members, including Finland and Sweden, the most recent additions to the bloc.

The first investments will be allocated to 4 European companies. Among those contemplated is the English company Fractile, a computer chip manufacturer that promises to accelerate the operation of large language models. ARX ​​Robotics, from Germany, which develops unmanned robots, also benefited.

The other two startups included are iCOMAT, from the United Kingdom, focused on producing lighter materials for vehicles, and Space Forge, a Welsh company that explores space conditions to manufacture semiconductors in orbit.


Leave a Reply

Your email address will not be published. Required fields are marked *