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Advent Atum, an Aboriginal-owned defence tech firm, raises nearly $2M in an oversubscribed round led by Phase Alpha to scale its HORAS Intelligent Fire Control System.
Advent Atum, an Aboriginal-owned and operated defence technology company, has successfully raised close to $2 million in a recent seed funding round to accelerate innovation in its mission critical AI-powered HORAS system.
The HORAS system has garnered attention for its advanced capabilities and potential to enhance defence operations. The Threat Detection and Engagement (TDE) system fuses cutting edge artificial intelligence with ballistics, C2 and intuitive interfacing to identify, track and engage threats.
In recent live fire development trials in April and July, Advent Atum with their customer came off a blazing start with five drone defeats at several hundred meters, showcasing the system's precision and effectiveness in real-world scenarios. These outcomes reflect a real solution to some of the most pressing threats facing the ADF and their allies, countering widespread autonomous systems at speed and scale. Currently, Advent Atum is delivering the HORAS system through trials in Australia and Ukraine. This opportunity for Advent Atum to deliver capability to Australia and their partners in Ukraine marks a significant milestone in the company's growth and development.
This capital raise was led by defence and national security venture capital firm Phase Alpha, with participation from ARQ Capital, Archangel Consulting and Billfolda Ventures alongside funds from Banksia and the D10x Program supported through the Defence Trailblazer.
Before securing this investment, Advent Atum had already made significant strides in developing their technology, advancing HORAS from Technology Readiness Level (TRL) 3 to TRL 5 on a bootstrapped budget of just $75,000. This rapid progression, achieved with limited resources, underscores the team’s ingenuity and the potential of their flagship product, the HORAS Intelligent Fire Control System.
Advent Atum's team brings a wealth of experience from some of the most respected names in the defence and technology sectors. With backgrounds at companies such as Rheinmetall Defence, Super CAT, Thales, Tesla, Y Combinator’s Amp Up as well as the space tech sector, the team is well-equipped to tackle the challenges of modern defence technology. This deep industry expertise has been instrumental in the development of the HORAS system, ensuring it meets the rigorous standards required for military applications.
This funding round was oversubscribed, highlighting the strong interest and confidence in Advent Atum's innovative technologies and what they can deliver to the warfighter.
Phase Alpha’s leadership in this investment round reflects a strategic alignment with Advent Atum's mission to revolutionise defence technology through cutting-edge AI and intelligent systems. The involvement of ARQ Capital and Archangel Consulting further underscores the company's potential for rapid growth and impact in the defence sector and a national and global scale.
The addition of Billfolda Ventures and Banksia as investors provides Advent Atum with a diverse base of support, positioning the company well for future expansion. The acceptance into D10X Accelerator not only provides financial backing but also access to a network of industry experts, resources, and mentorship that will be invaluable as Advent Atum continues to scale its operations.
Advent Atum's success in securing this funding is a testament to the company's innovative approach and commitment to delivering cutting-edge solutions in the defence industry. As an Aboriginal-owned and operated business, Advent Atum is also playing a crucial role in promoting diversity and inclusion within the sector.
Looking ahead, Advent Atum plans to use the funds to further develop and commercialise the HORAS Intelligent Fire Control System, expand its customer base, and capitalise upon its participation in the D10X Accelerator program. With the strong backing of its investors and the momentum from this funding round, Advent Atum is poised for significant growth and impact in the defence technology landscape.
Advent Atum will be showcasing its capabilities at Landforces, Army Innovation Day, and MSPO Poland in September 2024.
Quote from CEO Andrew Wilson:
" Let’s not beat around the bush—this investment is a game-changer for us. Our technology is making waves because it is showing promising results in its early days, plain and simple. We’re here to shake up the defence industry, and with the backing of these investors, we’re more than ready to deliver on that promise. Fire control systems haven’t really changed much technologically since the early '90s, and we’re here to disrupt that status quo."
