North Vector Dynamics, a Canadian defense technology company based in Calgary, closed a Series A round exceeding US$20 million (C$29 million). The round values the company at more than US$90 million. Tech Horizons led the financing, with participation from ONE9, Garage Capital, CSG, Ripple Ventures, Feld Ventures, and Conconi Growth Partners.
Use of funds
The new capital will support manufacturing and assembly. It will also fund greater vertical integration and supply chain security. North Vector Dynamics plans to add offices in the United States and Europe and hire new talent.
Company background
North Vector Dynamics was founded in 2022 in Calgary. CEO Dr. Paul Ziadé and Chief Science Officer Dr. Craig Johansen are former engineering professors at the University of Calgary. Retired General Tom Lawson, former senior military commander of the Canadian Armed Forces, serves as a strategic advisor.
The CM-70 interceptor
North Vector Dynamics' first commercial product is CM-70, a low-cost precision-guided counter-drone missile interceptor. The system targets high-speed, highly maneuverable unmanned aerial systems. It is ITAR-free and uses open architecture for easier integration with existing layered air defenses.
North Vector Dynamics plans to move from validation toward production volume. It also intends to enter Allied markets. CM-70 development has received early funding and testing support from Defence Research and Development Canada.