North Vector Dynamics (NVD), a Calgary-based Canadian defence technology company, has closed a Series A funding round exceeding US$20 million (approximately C$29 million), led by European venture capital fund Tech Horizons.
The round included participation from ONE9, Garage Capital, CSG, Ripple Ventures, Feld Ventures, Conconi Growth Partners and other investors. The financing valued the company at more than US$90 million.
Founded in 2022 by Dr. Paul Ziadé, Dr. Craig Johansen and Dr. Colin Hill, North Vector Dynamics develops missile interception systems, autonomous defence technologies and advanced propulsion capabilities.
Ziadé, the company’s CEO, and Johansen, its Chief Science Officer, previously served as engineering professors at the University of Calgary. Hill brings expertise in rocket propulsion and aerodynamics.
The company’s initial commercial product, CM-70, is a precision-guided missile interceptor designed to counter unmanned aerial systems (UAS), including high-speed and manoeuvrable drones.
According to North Vector Dynamics, the CM-70 is designed as a lower-cost air defence solution that can integrate with existing layered defence systems. The company describes the interceptor as ITAR-free and based on an open architecture.
North Vector Dynamics plans to use the Series A proceeds to expand its manufacturing and assembly operations, increase in-house production capabilities, strengthen supply chain security and recruit additional personnel. The company also intends to establish offices in the United States and Europe to support its international operations.
Tech Horizons, which focuses on defence, security and resilience technologies, previously invested in North Vector Dynamics during its seed financing round.
The company has also received early development funding and testing support from Defence Research and Development Canada, an agency of Canada’s Department of National Defence.
The latest financing is intended to support North Vector Dynamics as it advances the CM-70 interceptor toward larger-scale production and expands its defence technology activities for Canada and allied markets.
