Investments in European defense technology are increasing after NATO approved its first deep technology investments under a €1 billion fund on Tuesday. EUR, which aims to solve today's defense, security and resilience challenges. The North Atlantic Treaty Organization announced the fund in 2022 after Russia invaded Ukraine. The NATO Innovation Fund connects public technology buyers with start-ups to jointly develop defense technologies. The first companies to receive investment are from Europe, including Germany's ARX Robotics, which designs unmanned robots, and three UK start-ups.

London-based computer chip maker Fractile AI also received funding, along with Bristol-based iComat and Welsh start-up Space Forge, which makes new space materials. The fund has also invested in four technology-focused venture capital funds: Join Capital, Vsquared Ventures, OTB Ventures and Alpine Space Ventures. Unlike most venture capital firms, whose investment period exceeds 10 years, NATO Fund's investment horizon will exceed 15 years. Promote alliance technological sovereignty.

"Through this investment, the Fund is now beginning to make a real impact on our innovation ecosystem, providing growth opportunities for the most promising dual-use and defense companies to develop solutions to maintain the alliance's technological edge," said Deputy Secretary Dai David Wan. Weel, Innovation, Hybrid and networks as a whole, the statement said.

In a 2022 interview with Euronews Next, Van Veer said that NATO's biggest challenge is bridging the communication gap with innovators, as the military is not always up to date with the latest defense technology and many innovators do not know what the military needs. The other problem is that "defense organizations and governments in general are not known for fast procurement processes," he said.