Origin, a Riga, Latvia-based defence tech startup, raised €4M in pre-seed funding.
The round consisted of €2.4M in venture capital led by Change Ventures and €1.6M in EU and Latvian Ministry of Defence grants.
The company intends to use the funds to accelerate product development and to expand its team with key engineering and sales hires.
Founded in 2022 by Agris Kipurs and Ilya Nevdah, Origin is advancing the BEAK, a man-portable ISR (Intelligence, Surveillance, and Reconnaissance) drone-launched precision-guided weapon system. The BEAK employs advanced computer-vision algorithms and AI for precision guidance technology and autonomous flight, allowing it to navigate complex environments and respond to threats even under intense radio jamming. In addition to these capabilities, the BEAK is man-portable, quick to deploy, and designed for ease of use, making it desirable for defence forces operating in rapidly changing environments.
The company has commercial agreements in place with two NATO countries, and is already battlefield-tested.
FinSMEs
25/10/2024