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Gecko Robotics Latest Defense Tech To Raise Big

Illustration of founder with robot shadow.

Gecko Robotics, which creates robots to assess the safety and condition of critical infrastructure, has raised an additional $100 million in a Series C extension.

The new cash infusion was led by some big names — the US Innovative Technology Fund and Founders Fund, both of which will be taking board seats.

The Pittsburgh-based robotics startup announced a $73 million Series C in March 2022.

The new round comes a month after the startup landed a contract with the U.S. Navy to use its robots to assess damage as it builds submarines.

Founded in 2013, the company has raised $222 million to date, per Crunchbase data.

Defense tech on a role

The round is the latest big round to go to a defense tech startup as VCs start to seemingly warm to the industry. Defense tech historically has not drawn venture capital for a variety of reasons, including moral and ethical concerns.

However, just last week rocket propulsion startup Ursa Major said it has added another $38 million to its previously reported $100 million Series D — bringing its total Series D and D-1 funding to $138 million.

In October, defense and aerospace startup Shield AI raised a massive $200 million Series F at a $2.7 billion valuation.

Despite the recent uptick, defense tech numbers are still down from last year, per Crunchbase data. Last year, U.S.-based defense tech startups saw just less than $2.2 billion invested. This year, such startups have seen less than $700 million total.

However, if recent trends continue, 2024 could be a big year for the sector.

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