Defence-Tech Funding Grows With Terra's $52M Seed and Gallos's $50M Round

The latest raise follows an active year for Terra, which secured $11.75 million in January and a further $22 million the following month in a follow-on round led by Lux Capital. The company has announced a 34,000-square-foot manufacturing facility in Ghana and signed a memorandum of understanding with Nigeria's Defence Industries Corporation of Nigeria (DICON) to form a joint venture for local production. Co-founder and chief executive Nathan Nwachuku said critical infrastructure across the Global South is best protected by systems designed for those environments and built in the regions they protect, according to TechCabal.

Separately, Gallos Technologies, a UK-based defence-tech investor and builder, raised $50 million in a round that remains open, Tech.eu reported. The round was led by Ventura Capital, an early Spotify backer, and asset manager Aberdeen Investments, with existing investor Lansdowne Partners also taking part. Founded in 2021 by former national security official Josh Burch and armed forces veteran Dean Jones, Gallos backs defence, security, and resilience startups. Jones also serves as chief executive of portfolio company StirlingX, a drone and data intelligence startup. Sir Jeremy Fleming, director of GCHQ from 2017 to 2023, advises Gallos and chairs its strategic advisory board. Gallos said the funding would support its next cohort of company investments and investment in its platform.

Growth investor DTCP has secured €455 million in commitments for its first defence fund, backing early-growth and growth-stage technology companies aligned with European security.