#USA #New York #Series A #Vermeer #Navigation Tech

Vermeer Secures $10M in Series A Funding

In a significant boost for defense technology, Vermeer, a startup specializing in vision navigation and autonomy, has successfully announced the closure of its $10 million Series A funding round. Based in New York, with operations extending into Kyiv, this forward-thinking company aims to revolutionize drone navigation with its cutting-edge technology. The funding round was spearheaded by Draper Associates, a prominent early-stage venture capital firm, and included the participation of various other investors such as AeroX Ventures, Boscolo Intervest, High Point Ventures, and Rockaway Ventures, along with the U.S. Air Force Techstars.

Vermeer’s technology stands at the forefront of military innovation, particularly in aiding Ukraine’s defense forces. The company aims to solidify partnerships not only with the U.S. military but also with NATO Allies and the Armed Forces of Ukraine (AFU) by expanding its optical navigational technology solutions designed for both defense and commercial applications. The funding will enable Vermeer to enhance its operational capabilities and meet the growing needs of its client base.

Prominent figures in the venture capital landscape have expressed their confidence in Vermeer’s potential. "We backed Vermeer because of the impressive track record they've demonstrated in enhancing Ukraine's drone capabilities," stated Andy Tang, a partner at Draper Associates. The innovative technology offered by Vermeer—known as the Visual Positioning System (VPS)—addresses the significant vulnerability of GPS signals, especially in contested environments. It allows drones and other aerial vehicles to navigate effectively where satellite-based systems fail, particularly in situations where GPS signals are jammed or spoofed.

The VPS utilizes advanced capabilities drawing on visual data captured from multiple electro-optical or infrared cameras. By analyzing this data against a database of known landmarks and pre-existing maps, Vermeer’s technology can achieve precise location recognition, making it a game-changer for operations in challenging environments. CEO Brian Streem emphasized the critical importance of building such technology amid ongoing conflict, stating, “Building advanced technology in a war zone is not easy — but it's the only way to make it real. Our goal isn't merely about giving drones mass; it’s about infusing them with precision, intelligence, and a clear mission. The faith we've earned from over 30 customers is what drives us forward.”

Vermeer’s VPS technology, being a passive system, ensures reliability even in adverse conditions, removing the dependency on external signals and enhancing operational resilience. This makes it suitable for diverse applications, extending beyond defense to include civilian uses in autonomous vehicles and logistics.

In the past year, Vermeer has transitioned significantly, growing its workforce from 10 to 40 employees, with a dedicated team operating on the ground in Ukraine. As affirmed by Streem, the newly acquired funding will bolster their ongoing technological innovations and enable them to meet customer demands effectively.

Expressing optimism regarding the future of Vermeer, Petr Šmíd, General Partner at Rockaway Ventures, remarked, “Vermeer's navigation technology is not only user-friendly but revolutionary in its scalability. It operates without radio signals and remains functional even under stress from GPS disruptions. We strongly believe in the transformative impact this technology will have across various platforms, set to redefine standards in drones and autonomous systems alike.”

As a pioneer in vision-based autonomy solutions, Vermeer embodies the potential of defense technology in fostering innovation and advancing military capabilities. Supported by esteemed stakeholders in the venture capital space, Vermeer is well-positioned to lead the charge in revolutionizing not only defense technologies but also reshaping how autonomous systems function on a broader scale. With its technology already deployed by the Armed Forces of Ukraine against adversarial forces, Vermeer’s ambitions signify a promising trajectory to redefine navigation autonomy worldwide.