Austin, USA-based maritime autonomy company focusing on surface vessels, Saronic, raised USD 55 million in Series A funding. The round took place on October 10, 2023. Caffeinated Capital led the financing for the company. Meanwhile, 8VC, U.S. Innovative Technology Fund, Andreessen Horowitz, Lightspeed Venture Partners, Point72 Ventures, Silent Ventures, Overmatch Ventures, Ensemble V.C., and Cubit Capital also joined in the funding.
Purpose of financing for Saronic
The recent investment marks Saronic’s commitment to confront critical capability gaps at sea via attributable, autonomous platforms. With the latest proceeds from the Series A fundraise, Saronic seeks to accelerate research and development. It also has plans to expand its in-house manufacturing capacity for rapid production.
What the company’s official has to add
Dino Mavrookas, the company’s co-founder and CEO, 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 stands apart. 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.”
In addition, Rob Lehman, Saronic’s co-founder and Chief Commercial Officer, said, “We are honoured to have the backing of seasoned investors who are fully aligned with our mission to deliver top-tier technology to our warfighters as fast as possible. This funding round will enable us to sustain our rapid growth, development, and delivery efforts.”
What the investors have to comment
Raymond Tonsing, founder and managing partner of Caffeinated Capital, further 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.”
Besides, Joe Lonsdale, the managing partner of 8VC and co-founder of Saronic via the 8VC Build program, said, “Saronic has brought together the top talent from the innovation world, the military, and the defence industry to address the most critical strategic needs for our Navy.”
About the company
Dino Mavrookas, Rob Lehman, Vibhav Altekar, Justin Davis, Natalie Wiegand, and Doug Lambert launched the company in 2022. The company is currently developing Spyglass, a 6-foot vessel, and Cutlass, a 13-foot vessel; each outfitted with remotely updatable software and capable of carrying diverse payloads in communication-denied and GPS-denied environments.
Saronic is a defence company with a dynamic blend of innovators, seasoned warfighters, and top-tier engineers and technologists from various fields, all dedicated to bringing autonomy to American and allied navies.
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