Backed by $26 million in pre-seed and seed funding, Dominion Dynamics plans to advance its technology aimed at defending the Canadian Arctic, hire hundreds more engineers, and open a 25,000-square-foot factory in Kanata.
On Monday, the Ottawa-based defence-tech startup announced that it had raised $21 million in seed funding, which it will use to accelerate the deployment of “Auranet,” a network of sensors and autonomous systems designed to monitor Canada’s northern frontier, as well as a drone designed to pair with fifth-generation fighter jets.
The seed round was led by Georgian, with participation from Bessemer Venture Partners and British Columbia Investment Management Corporation (BCI), and is one of the largest early-stage investments in the defence sector, according to a news release from Dominion, which has raised $26 million in total since launching last year.
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