North Vector Dynamics (NVD), a Calgary defence technology company, has closed a Series A round of more than $20m (C$29m) that values it at more than $90m. The company announced the round on 26 October 2026.
Tech Horizons, a European venture fund focused on defence, security and resilience technology that also invested in NVD's seed round, led the financing. ONE9, Garage Capital, the Czech defence group CSG, Ripple Ventures, Feld Ventures and Conconi Growth Partners also took part, along with others who were not named.
NVD told BetaKit the round officially closed in the summer, and that Canadian investors made up a sizable minority of it, with the rest coming from the US and Europe. BetaKit reported that the round takes NVD's total equity funding to nearly $28m.
“Allied forces need affordable, producible air defence at scale, and they need it now,”Dr. Paul Ziadé, Co-Founder and CEO, North Vector Dynamics
What North Vector Dynamics does
NVD's first product is CM-70, a low-cost, precision-guided missile designed to shoot down fast, highly manoeuvrable drones of the kind used against forces in Ukraine and the Gulf. The company says the system is free of US ITAR export restrictions and built on an open architecture so it can plug into existing layered air defences.
The company was founded in 2022 by chief executive Paul Ziadé and chief science officer Craig Johansen, both former engineering professors at the University of Calgary, together with Colin Hill, who specialises in rocket propulsion and aerodynamics. Retired general Tom Lawson, a former senior commander of the Canadian Armed Forces, is a strategic adviser.
Beyond counter-drone missiles, NVD says it is building a full range of missile capabilities up to hypersonics. Defence Research and Development Canada, an agency of the Department of National Defence, has supported CM-70 with early funding and testing.
What the money is for
NVD will use the money to build out manufacturing and assembly, bring more production in-house, secure its supply chain, hire staff and open offices in the US and Europe.
A spokesperson told BetaKit the company plans to open an Ottawa office this year, with US and European offices to follow in 2027, and expects to roughly double its headcount to about 50 people over the next six to eight months.
CM-70 is not yet in service with any military, BetaKit reported. The company tentatively plans to start deliveries in 2027, with initial manufacturing expected to begin early next year, and says customer requests could become its first orders in the coming months.
Who invested
Tech Horizons was set up through a partnership between a team of venture investors and CSG, the Czechoslovak Group. Its portfolio includes the rocket motor maker Firehawk Aerospace, the drone navigation company Bavovna AI and the autonomy software company Occam Industries.
Matej Luhový, a partner at Tech Horizons, said the fund invested in NVD in the spring as its first European investor, and that closing the Series A confirmed its original thesis.
NVD describes the deal as one of Canada's largest defence technology financings.
Company website: northvectordynamics.com