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The Calgary aerospace startup said the Series A investment round values it at more than US$90 million. North Vector is working on a missile it calls the CM-70, which is intended to shoot down attack drones. (The Logic)
Talking point: Investors in the round include Canadian firms One9, Garage Capital, Ripple Ventures, Feld Ventures and Conconi Growth Partners. But the investment is led by Czech venture capital firm Tech Horizons, which is affiliated with Czech defence conglomerate CSG. CSG invested directly in North Vector in August and more recently bought 9.5 per cent of Canadarm maker MDA Space. CSG’s investment director Stanislav Kuba told The Logic after the MDA deal that the company sees Canada as a potential customer for its own ammunition and land-based military gear, and is looking to Canadian investments to expand its industrial footprint here.
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