Business · Companies · 1 hr ago
North Vector Dynamics raises more than $20 million for counter-drone technology
Calgary-based North Vector Dynamics raised more than US$20 million in a Series A funding round, reported as C$29 million.
The Canadian-owned defence company plans to use the money to expand manufacturing in Canada and open offices in the U.S. and Europe.
Its main product, the CM-70, is a small, precision-guided missile designed to intercept drones and can be launched from the ground or from the air.
The CM-70 is designed to counter drones at lower cost than competing systems, according to the company’s chief executive.
Low-cost drones have challenged expensive military equipment in conflicts including Ukraine and Iran, drawing interest in more affordable defences.
North Vector has also received Canadian government support, including a four-year, $4.2-million contract in 2025 to work on propulsion and hypersonic technologies.
The company says it is pursuing more contracts with Canada and its allies as it grows production and its international presence.
North Vector Dynamics raised more than US$20 million in a Series A funding round.
The Calgary-based defence technology company plans to expand manufacturing and assembly of its counter-drone missile in Canada.
It also plans to open offices in the United States and Europe to work with partners on local production.
The funding round was led by European venture capital fund Tech Horizons.
The company’s flagship product, the CM-70, is a precision-guided missile designed to intercept drones.
- Who
- North Vector Dynamics, a Canadian-owned and controlled defence technology company based in Calgary.
- What
- It closed a Series A funding round exceeding US$20 million, equivalent to C$29 million.
- When
- October 26, 2026.
- Where
- The company is headquartered in Calgary, Alberta; the funding was led by European venture capital fund Tech Horizons.
- Why
- To expand manufacturing and assembly of its counter-drone missile in Canada and open offices in the United States and Europe.
This story does not have two clearly opposing sides.
North Vector received a four-year, $4.2-million contract from Defence Research and Development Canada to work on propulsion and hypersonic technologies.
Investors approached chief executive Paul Ziadé about leading the company’s next funding round.
North Vector announced that it had closed a Series A round exceeding US$20 million.
- Series A funding
- More than US$20 million, or C$29 million
- Company valuation
- More than US$90 million
- Funding lead
- Tech Horizons
- Headquarters
- Calgary, Alberta
- Flagship product
- CM-70 counter-drone missile
- Government contract
- Four years and $4.2 million, awarded in August 2025
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What people are saying
The time to build these technologies is now. There is a real sense of urgency right now. Europe can’t wait. The Gulf can’t wait. Arguably, Canada shouldn’t wait. And so, we said ‘let’s do it and let’s just pour more fuel on the fire.’
fraction of the cost