Saronic Technologies has raised $55m in a Series A funding round to develop autonomous ships for the defence industry.
Caffeinated Capital led the round, which has seen participation by 8VC, Andreessen Horowitz, Cubit Capital, Ensemble VC, Lightspeed Venture Partners, Overmatch Ventures, Point72 Ventures, Silent Ventures, and US Innovative Technology Fund.
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Launched in 2022 by former US Navy SEAL and the current CEO Dino Mavrookas, Saronic aims to build autonomous surface vessels for the US and its allies.
The Texas, US-based company said it will use the funding to support research and development initiatives and expand its manufacturing capabilities to accelerate production.
Currently, Saronic is developing two vessels, called Spyglass, a 1.82m vessel, and Cutlass, a 3.96m vessel.
Both are equipped with remotely updatable software and have the ability to carry a variety of payloads in communication- and GPS-restricted environments, the company said.
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By GlobalDataMavrookas said: “America’s conventional shipbuilding ecosystem lacks the agility to match the threats posed by our adversaries, and many proposed solutions for the fleet aren’t cohesively designed for the mission.
“Saronic has worked closely with the Navy to build a solution that meets their requirements. We’re putting software, autonomy, and mission profiles first, reshaping design for rapid production and deployment, and creating a novel breed of autonomous vessels that can meet current and future threats.”
Caffeinated Capital founder and managing partner Raymond Tonsing said: “Saronic is one of the most timely and ambitious companies we have ever partnered with – its technology will fundamentally transform how the Navy operates over the next century.
“We have been astounded by the speed at which this exceptional team has already begun to bridge the technology gap in naval autonomy.”
In September 2023, German defence technology startup Helsing raised €209m ($222.72m) in a Series B funding round led by Swedish aerospace and defence company Saab.
