Vatn Systems Raises $60 Million Series A to Scale Autonomous Underwater Vehicle Technology
Vatn Systems, a Portsmouth, Rhode Island-based defense technology company building autonomous underwater vehicles (AUVs) for the U.S. military, allied nations, and commercial customers, has advanced rapidly from seed startup to a well-capitalized player in the naval autonomy sector with its latest venture funding and a growing roster of strategic investors. Founded in 2023 by maritime experts and military leaders, Vatn Systems aims to redefine undersea missions through cost-effective, modular, and scalable AUV platforms tailored for modern naval needs.
In December 2025, Vatn Systems announced the successful closing of a $60 million Series A funding round — a milestone that brought the company’s total funding to approximately $76.5 million since inception and marked one of the largest investments in the autonomous underwater vehicle space to date. This substantial injection of capital is intended to accelerate engineering and production of Vatn’s modular AUVs, deepen partnerships with defense customers, scale manufacturing capacity, and expand its global footprint across military and civilian markets.
The Series A round was led by BVVC, a venture capital firm known for backing frontier technology companies across defense, aerospace, and deep tech sectors. Alongside BVVC, the financing included participation from a diversified group of new and returning investors, reflecting broad strategic interest in Vatn’s autonomous systems and undersea technologies. New contributors included Hanwha, a major South Korean industrial and defense conglomerate; Geodesic Capital, Airbus Ventures, the venture arm of the aerospace giant Airbus; Dauntless Ventures, Trousdale Ventures, and Veteran Ventures Capital, a firm investing in dual-use national security technologies.
In addition to these new backers, Vatn Systems’ Series A also drew continued support from existing investors, validating confidence in the company’s direction and execution. These returning investors included DYNE Ventures, an early seed lead; Propeller Ventures, Decisive Point Ventures, SAIC Ventures, Centre Street Partners, Cubit Capital, and Lockheed Martin Ventures, the corporate venture unit of the U.S. defense giant. Together, the participating investors bring a combination of defense domain expertise, strategic infrastructure understanding, and capital resources that support Vatn’s ambitious growth plans.
Prior to the Series A, Vatn Systems had already established momentum with an oversubscribed $13 million seed round in November 2024. This initial financing was led by DYNE Ventures, with robust participation from Lockheed Martin Ventures, RTX Ventures, In-Q-Tel, Propeller Ventures, SAIC Ventures, Cubit Capital, Fortitude Ventures, and existing backers that included Centre Street Partners, The Veteran Fund, Blue Collective, and Decisive Point. This early backing enabled Vatn to expand its team, accelerate development of its AUV platforms, and establish a state-of-the-art manufacturing facility to support future production at scale.
Vatn Systems’ autonomous vehicles — including the Skelmir S6 and Skelmir S12 platforms — are designed to act as force multipliers in undersea environments, combining modular payload flexibility, advanced navigation technology, and robust mission adaptability. The S12, in particular, merges features of traditional AUVs with the agility and performance of lightweight torpedoes, enabling missions such as threat attrition, sensor deployment, and electronic warfare in GPS-denied maritime environments. Vatn’s proprietary navigation and control systems allow precision deployment of these platforms even in complex ocean conditions.
The strategic mix of investors participating in Vatn Systems’ funding rounds — from specialized defense venture firms to major aerospace and industrial players — highlights growing industry recognition of the strategic importance of autonomous systems in future naval operations and dual-use markets. The $60 million Series A, backed by both new capital and continued commitments from early investors, positions Vatn to expand its role as a key supplier of scalable underwater autonomy solutions for national security, commercial applications, and allied defense collaborations.
Looking ahead, Vatn plans to deploy the Series A proceeds to deepen its research pipelines, scale manufacturing outputs to meet rising demand, and accelerate deployment of its autonomous fleets across both defense and civilian missions, including maritime security, environmental monitoring, and other domains where cost-effective underwater autonomy can deliver transformative impact.
