Tech Horizons Leads USD 21M Series A in North Vector Dynamics as Canadian Defence Startup Moves Toward Production

• Prague-based Tech Horizons leads North Vector Dynamics’ USD 21M Series A, valuing the company above USD 90M
• CSG and international investors join existing backers to support NVD’s next growth phase
• The company targets cost-effective counter-drone interception through modular systems and scalable manufacturing
• NVD plans to expand production, strengthen supply chains, hire staff, and open US and European offices

This October, Tech Horizons, the Czech well-known Czech VC fund (invested in Occam Industries, among others) has led the Series A financing round exceeding USD 20M for Canadian defence technology company North Vector Dynamics (NVD), building on its initial investment in the company earlier in 2026. The round, valued at USD 21M according to NVD, brings in the fund’s industrial partner CSG alongside a group of North American and European investors, at a company valuation exceeding USD 90M. The funding is intended to move NVD from technology validation towards production at scale and customer sales, while expanding its manufacturing capabilities and international presence.

Tech Horizons first became NVD’s European investor this spring, attracted by a founding team with experience in aerospace engineering, applied research and advanced propulsion technologies. Its latest investment builds on that initial commitment, with the fund taking the lead in a round that also includes ONE9, Garage Capital, CSG, Ripple Ventures, Feld Ventures, Conconi Growth Partners, and more investors. The financing is intended to accelerate development of NVD’s counter-drone systems, expand manufacturing and assembly capacity, strengthen supply-chain resilience, and support its expansion across NATO and other allied markets.

‘When we invested in North Vector Dynamics this spring as its first European investor, we were convinced above all by the exceptional calibre of its founding team and its technological vision. The company’s founders include former aerospace engineering professors with experience in applied research at NASA who have successfully translated world-class research into a solution addressing one of the defining challenges of today’s battlefields: how to protect soldiers and critical infrastructure from large-scale drone and loitering munition attacks in a cost-effective manner. The successful completion of the Series A round validates our original investment thesis and reinforces our belief that technologies like these will play a decisive role in strengthening the defence capabilities of democratic nations. At Tech Horizons, these are exactly the kinds of companies we want to support over the long term and help scale globally,’ Tech Horizons’ partner Matej Luhový shares.

From University Research to a Defence Tech

Founded in Calgary in 2022, NVD was established to develop next-generation air and missile defence technologies, with a focus on precision interception, autonomous systems and advanced propulsion. Its co-founders include CEO Dr Paul Ziadé and Chief Science Officer Dr Craig Johansen, both former engineering professors at the University of Calgary, alongside Dr Colin Hill, whose expertise covers rocket propulsion and aerodynamics. Dr Johansen previously worked at NASA’s Langley Research Center and held the Schulich Research Chair in Aerospace Engineering, while retired General Tom Lawson, former senior military commander of the Canadian Armed Forces and Deputy Commander of the North American Aerospace Defense Command, serves as a strategic adviser.

The company’s development has been supported by Canadian government funding and contracts. In 2024, NVD received awards totalling CAD 2.5M through a competition organised by Defence Research and Development Canada (DRDC) to develop counter-unmanned aerial system solutions, followed by a CAD 4.2M contract in 2025 for work on propulsion and hypersonic technologies. A USD6M seed round in 2025 helped finance the company’s next stage, with the new Series A providing additional capital to commercialise its counter-drone system and prepare for larger-scale production.

‘North Vector Dynamics stood out to us because of the depth of its founding team. Scientists who have spent years operating at the frontier of hard engineering, from nuclear reactors to hypersonic technologies. We see NVD as a strong potential partner for Europe: the technologies they are developing alongside the Canadian government are directly relevant to European security and to the wider alliance. Cost-effective, layered air defence against Shahed-class threats and hypersonic weapons remains an unsolved problem, and we are proud to be joining NVD as they help solve it,’ Mr Luhový explains.

Addressing the Economics of Counter-Drone Defence

NVD’s flagship CM-70 SPEAR is a short-range interceptor designed to counter small and medium-sized unmanned aerial threats, including commercial drones, first-person-view (FPV) aircraft, larger tactical UAVs, and loitering munitions. The system is intended for situations in which defenders face repeated or mass attacks using relatively inexpensive aerial platforms, making the cost of each interception a central consideration. Conventional air defence can become economically difficult to sustain when expensive guided missiles are used against targets that cost a fraction as much.

The CM-70 is designed to deliver a cost per shot that is a fraction of comparable missile effectors used against high-speed unmanned aerial systems in conflicts such as those in Ukraine and the Gulf, according to the company’s stated objective. Its value will ultimately depend not only on interceptor price but also on the assets under protection, the operational context, and the performance of the wider air defence system. The investment therefore backs an attempt to address a specific capability gap while developing a technology that could fit into a broader range of allied defence architectures.

The system uses autonomous semi-active laser guidance and AI-enhanced terminal guidance, without depending on GPS or a communications datalink during the engagement. Its open architecture is designed to support integration with customer sensing and command-and-control (C2) systems, reflecting a wider shift towards modular air defence in which different sensors, decision systems, and interceptors can work together. The decision to engage a target remains with the user at a higher level of the system, rather than being made autonomously by the interceptor itself.

Kinetic interception also has a distinct role alongside non-kinetic counter-drone methods such as jamming, spoofing and directed-energy systems. Interceptors can address threats in different environmental conditions and in situations where electronic warfare may be insufficient or communications are contested, although the most suitable approach depends on the threat and operational setting. NVD’s emphasis is therefore on interoperability and flexibility, rather than requiring customers to replace their existing detection and command infrastructure with a closed system.

Scaling Production with CSG’s Industrial Support

The Series A also brings a closer strategic relationship with CSG, the European defence industrial group that is both an investor in NVD and the industrial partner behind Tech Horizons. CSG separately announced its investment in NVD in August 2026, although the value of that transaction was not disclosed at the time. Its participation in the new financing round is intended to combine venture capital with manufacturing expertise, integration opportunities and commercial relationships across NATO member states and other allied markets.

‘The nature of modern conflicts is changing rapidly. Autonomous systems, artificial intelligence, advanced sensors, precision guidance, and cost-effective air defence are becoming increasingly important. North Vector Dynamics is developing a series of interceptors with the potential to fundamentally shape these capabilities in the years ahead. That is why we decided not only to become an investor, but above all a long-term strategic partner of the company. In addition to capital, we want to provide our industrial expertise, manufacturing capabilities, and commercial network in Ukraine, across NATO member states, and with partner nations around the world, CSG’s Chairman of the Board and CEO Michal Strnad states.

For NVD, the practical priorities are expanding manufacturing and assembly, securing the supply chain and hiring additional personnel, alongside opening offices in the United States and Europe. The aim is to move more rapidly from validation into production volume and customer sales, although the company has not disclosed specific production targets or a detailed timetable for those milestones. The financing is therefore intended to support both the industrial capacity needed to fulfil future orders and the commercial presence required to reach customers in multiple allied markets.

‘Our investment in North Vector Dynamics demonstrates CSG’s approach to technological innovation. We are not simply looking for attractive companies, but for partners with the potential to significantly influence the future of defence technologies. We want to help NVD accelerate development, expand production, and gain access to allied markets, where its technologies can play an important role in building modern defence capabilities. Canada also belongs to the most attractive investment destinations worldwide thanks to its stability, transparency and highly qualified teams,’ CSG Investment Director Stanislav Kuba notes.

This relationship also gives NVD a potential route into a broader industrial ecosystem, including opportunities to integrate its technology into existing defence solutions. CSG has been expanding its activities in radar technologies, air defence, autonomous systems, and missile and UAV propulsion, areas that overlap with NVD’s development priorities. The commercial impact will depend on how these relationships translate into customer access, integration work and eventual deployment, rather than the investment alone guaranteeing adoption.

‘We are excited to partner with CSG and Tech Horizons because their teams combine world-class industrial and defence technology expertise with strategic networks that span key markets. As North Vector Dynamics scales to address the urgent counter-UAS capability gap facing Canada and our allies, our investors’ support will accelerate our growth during a critical period of opportunity for our business. These partnerships reflect a shared conviction that building resilient defence capability at speed is essential to the security of Canada, other NATO countries, and other allied nations,’ Dr Ziadé comments.

Beyond Counter-Drone Systems

While the CM-70 is the near-term focus, NVD is developing technologies across a wider range of interceptor classes, sensing systems and propulsion approaches. The company has also been contracted by Canada’s Department of National Defence to work on hypersonic technologies, extending its activity beyond short-range counter-UAS applications. Its longer-term ambitions include a broader portfolio of precision-guided systems designed for different speeds, ranges and payload requirements.

The company’s technology development sits within a defence environment where interoperability and export controls are both important considerations. NVD works with Canadian federal officials on export approvals, which are determined by the Government of Canada, and must align international cooperation with Canada’s defence and security priorities. Its ability to serve European and other allied customers will depend on regulatory approvals as well as technical compatibility and commercial partnerships.

‘We are proud to welcome a major industry player such as CSG as a strategic investor. Beyond capital, CSG brings deep industrial expertise, extensive knowledge of defence markets, and a strong presence across Europe and around the world. We share the same vision of rapidly building modern defence capabilities for Canada, NATO, and other allied nations, and we believe this partnership will significantly accelerate both the growth of North Vector Dynamics and the deployment of our technologies into operational use,’ Dr Ziadé adds.

The new financing comes as European and North American defence organisations reassess how to counter mass deployments of inexpensive drones without exhausting stocks of more costly interceptors. NVD’s proposition rests on combining a lower-cost kinetic option with modular integration and the potential for scaled manufacturing, while its broader research programme could extend the company’s role into additional air and missile defence applications. For Tech Horizons, the Series A is both a follow-on investment in a company it backed early and an opportunity to use CSG’s industrial capabilities and international network to help bring the technology towards wider deployment.

‘Since Tech Horizons joined our investor base, we have achieved significant technological and commercial progress. The new financing round provides not only capital for our next stage of growth, but also strategic partners who will help us accelerate development, expand production and bring our technologies to customers across Canada, Europe, and other allied and partner markets. The combination of an experienced venture capital fund and a strong industrial partner creates the ideal conditions for North Vector Dynamics’ continued growth and the faster deployment of our technologies into operational use,’ Dr Ziadé concludes.