Helsing, a Munich-based defense company focused on creating artificial intelligence-based military solutions and components, has secured over $490 million from a Series C financing round it initiated to raise funds for product research and development. U.S.-based venture capital firm General Catalyst led the funding round, with Elad Gil, Accel, Saab, Lightspeed, Plural and Greenoaks as...
Hello, Guest!
Tag: Investment
Post
European Investment Fund, NATO Partner to Improve Regional Defense Sector Investment
The European Investment Fund has launched an initiative to strengthen investments in the continent’s defense and security capabilities. In a memorandum of understanding with the NATO Innovation Fund, the two organizations aim to encourage private capital funds to allocate more of their investments towards the region’s defense and security industry. The MOU includes plans for...
Post
Treasury Seeking Comments on Proposal to Prohibit Tech-Related Deals in Countries of Concern
The Department of the Treasury is soliciting comments on its proposed regulations addressing potential national security issues posed by U.S. investments in locations deemed countries of concern under an executive order on national security technologies and products. The Treasury issued a notice of proposed rulemaking in compliance with Executive Order 14105, under which the department...
Post
Microsoft to Spend $3.1B for Expansion of Cloud, AI Infrastructure in Australia
Microsoft has announced an investment of $3.1 billion to expand its cloud computing and artificial intelligence infrastructure in Australia through 2025. The company said the digital investment will enable Australia to deploy AI technologies to fortify its economic competitiveness, generate highly skilled jobs and safeguard the country from evolving cyberthreats. Microsoft Vice Chairman and President...
Post
Rheinmetall to Build Ammunition Plant in Lithuania With Potential New Incentives; Ausrine Armonaite Quoted
Germany-based defense company Rheinmetall has signed a memorandum of understanding to build an ammunition plant in Lithuania. The Baltic country has declared the project of state importance and is receiving new incentives from the Lithuanian Ministry of the Economy and Innovation, led by Minister Ausrine Armonaite. The planned incentives include legal amendments to simplify site...
Post
Oracle to Hire Local Talent for Expanded R&D Capabilities in Morocco; Safra Catz Quoted
Oracle has signed an agreement with Morocco to expand its research and development capabilities in the North African country. Oracle CEO Safra Catz and Ghita Mezzour, the minister of digital transition and administration reform in Morocco, finalized the partnership on Thursday. In a statement, Catz said the collaboration will allow Oracle to tap a deep...
Post
Australia to Invest Billions to Improve Northern Territory Bases; Pat Conroy Quoted
The Australian government will invest up to $11.83 billion over the next 10 years to upgrade military bases and defense capabilities in the Northern Territory. The investment under the 2024 Integrated Investment Program supports the latest National Defence Strategy. Pat Conroy, Australian minister for defense industry, said the government is increasing defense spending to provide...
Post
BWXT Investing $58M to Expand Nuclear Manufacturing Plant in Canada; John MacQuarrie Quoted
BWX Technologies has announced an investment of $58 million to expand its Cambridge nuclear manufacturing plant in Ontario, Canada. The company said it will spend $36.5 million to increase the existing facility’s footprint by 25 percent and $21.9 million will be used to procure advanced manufacturing equipment over the coming years. The expansion project will...
Post
Oracle to Expand Japanese Cloud Business With Planned $8B Investment; Toshimitsu Misawa Quoted
Oracle Corp. is spending more than $8 billion to expand its cloud business in Japan. The planned investment, to play out over the next 10 years, will grow Oracle Cloud Infrastructure’s footprint across the country. Central to the plan is the company’s target of increasing its Japan-based personnel to provide customers with operations and engineering...
Post
Saab Assembling Gripen Combat Aircraft at Embraer’s Sao Paolo Plant
Swedish aerospace and defense company Saab is assembling 15 F-39E Gripen combat aircraft at Embraer‘s factory in Sao Paolo, Brazil. The fighter production line, inaugurated in May, is an offshoot of the $5.04 billion order for 36 Gripen fighters that Brazil initiated in 2014, with four more added in 2022 to double the country’s air...