HavocAI closes $85M capital raise
Gettyimages.com / Yuichiro Chino
By
Ross Wilkers
The one-year-old startup partners with existing shipyards to build its uncrewed vessels and focuses on their central operating systems to integrate the autonomy.
HavocAI, a one-year-old startup maker of uncrewed and autonomous surface vehicles, has captured $85 million in new capital from investors to support the expansion of both production capacity and tech integration capabilities.
The Providence, Rhode Island-company’s goal is to eventually create self-organizing fleets with hundreds or potentially thousands of vessels that are managed by a single operator.
“Software-first” is how HavocAI characterizes its strategy to focus on the central operating systems of uncrewed vessels and partnering with existing shipyards to build them. During the Army’s Project Convergence tech demonstration in May, HavocAI attached its software onto what the company describes as a “pontoon boot” that landed on a beach.
HavocAI said Friday the new capital raise included a pair of high-profile strategic investors in In-Q-Tel and Lockheed Martin Ventures, respectively the venture investment arms of the intelligence community and global defense giant.
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B Capital, Hanwha, Taiwania, Vanderbilt University, Up Partners, Island Green Capital and Zero Infinity Partners have also joined HavocAI’s investor network. Scout Ventures, Outlander Ventures and other early funders are continuing their involvement.
"This funding represents far more than just capital – it has enabled us to cut through the noise about maritime autonomy and build a collaborative autonomy stack that actually works in a very short time," HavocAI’s CEO and co-founder Paul Lwin said in a release. "We've put two new boats in the water this year, and we're going to add two more before the year is over, including our (100-foot) Atlas multi-mission vessel.”
HavocAI also manufactures vessels at lengths of 14 feet, 38 feet and 42 feet. The company’s network of partners includes Lockheed, PacMar Technologies, Metal Shark, Ilmor and Tocaro Blue.