Vatn Systems Raises $60M for Autonomous Underwater Vehicles
Vatn Systems has secured $60 million in Series A funding to expand production and development of autonomous underwater vehicles (AUVs) for US military, allied nations, and commercial use, underscoring growing demand for uncrewed naval platforms.
Co‑founder and CEO Nelson Mills said the investment will help Vatn accelerate research and development, expand its team, and scale manufacturing to meet rising demand for affordable, deployable AUVs.
He described the company’s goal as becoming “the next underwater defense prime in a world where autonomous systems dominate the naval battlespace.”
The round was led by BVVC and includes new investors such as Hanwha, Geodesic Capital, Airbus Ventures, Dauntless Ventures, Trousdale Ventures, and Veteran Ventures Capital.
Major existing backers — including DYNE Ventures, Propeller Ventures, Decisive Point Ventures, SAIC Ventures, Centre Street Partners, Cubit Capital, and Lockheed Martin Ventures — also participated, bringing Vatn’s total capital raised to $76.5 million so far.
Undersea Defence Developments
Autonomous and unmanned underwater systems are increasingly central to naval modernization strategies worldwide.
In the US, the navy and Defense Innovation Unit (DIU) have been advancing multiple AUV programs.
For example, Kongsberg Discovery conducted extensive in‑water demonstrations of its HUGIN AUV family, which includes long‑endurance vehicles designed for seabed mapping, mine countermeasures, and intelligence missions under the DIU’s Large Diameter Unmanned Underwater Vehicle effort.
Anduril, another key player, was selected by the US Navy to prototype its Dive‑LD AUV for long‑range, persistent underwater sensing and payload delivery, reflecting Pentagon interest in scalable autonomous maritime capabilities.
Furthermore, the US Navy tapped Oceaneering to build its Freedom AUV, a platform intended to enhance autonomous sensing and operational reach in challenging undersea environments.
