Last week, defense and critical infrastructure tech startup Chaos Industries raised $145 million in a Series B — more than doubling its Series A fro

Defense Tech Hits New Highs In 2024

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2024-11-26 18:00:06

Last week, defense and critical infrastructure tech startup Chaos Industries raised $145 million in a Series B — more than doubling its Series A from just last year.

The funding round was just another sign of how defense tech investment has exploded this year. The sector already has taken in more venture dollars than ever before and investment is showing few signs of letting up as defense systems become more dependent on tech, conflicts around the world heat up, and many expect a likely uptick in the Department of Defense’s budget after the recent election.

Through mid-November, defense tech startups — defined as those in the military, national security and law enforcement sectors — have raised just under $3 billion in 85 rounds, per Crunchbase data.

The dollar figure beats out the $2.6 billion raised in 113 rounds for all of 2022, which was the previous high mark for the defense tech industry.