NATO Fund Backs UK Materials Startup Targeting Space, Cars
- UK startup iComat closed a $22.5 million Series A round
- NATO’s new €1 billion venture fund co-led iComat investment
The NATO headquarters in Brussels.
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
The North Atlantic Treaty Organization’s €1 billion ($1.1 billion) technology fund invested in a UK startup that makes lightweight materials for spacecraft, cars and the defense sector, marking the first time it has publicly participated in a funding round.
IComat closed a Series A funding round co-led by 8VC and the NATO Innovation Fund, raising $22.5 million in capital, the startup said in a statement on Wednesday.