LOS ANGELES--(BUSINESS WIRE)--CHAOS Industries, a technology company building the next generation of defense and critical industry technologies, today announces that the company has raised $145 million in Series B funding to support the next phase of its commercial growth and development.
The Series B was led by Accel, with participation from 8VC, as well as Overmatch Ventures, Lerner Enterprises, and existing insiders.
Proceeds will be used to spur the development of CHAOS Industries’ advanced detection, monitoring, and communication solutions to the defense, government, and commercial sectors, as well as to accelerate the company’s product development, hiring plans, and high-volume manufacturing.
“U.S. national security is at an inflection point,” said CHAOS Industries Founder and Co-CEO John Tenet. “As our adversaries become more sophisticated, America must embrace next-generation technological innovation to combat more complex national security threats. This funding will accelerate CHAOS Industries’ ability to provide the cutting-edge technological solutions the U.S. and its allies need to remain secure.”
“CHAOS Industries is in a prime position to emerge as a premier developer of defense technology,” said CHAOS Industries Founder and Co-CEO Dr. Bo Marr. “With this latest funding round, we will be able to innovate our existing products and develop new solutions. This is an investment not just in our company, but in the security of our nation.”
The Accel-led Series B round brings total funding raised by the company to $215 million since inception.
“It's going to take a new generation of defense technologies to address the complex national security challenges we face today,” said Steve Loughlin, partner at Accel. “We've been impressed by CHAOS Industries’ sophistication and execution, and think they're well-positioned to deliver new solutions that the U.S. is looking for.”
The company also recently announced the appointment of former U.S. Congressman and Central Intelligence Agency veteran Will Hurd as its Chief Strategy Officer. Mr. Hurd’s decades of experience and deep understanding of defense technology make him uniquely positioned to support CHAOS Industries’ mission-driven engineering strategy and guide the company as it allocates these new resources.
“The urgency to enhance America’s defense and security capabilities with modern technologies has never been greater,” said CHAOS Industries Chief Strategy Officer Will Hurd. “It is the exact mission of CHAOS Industries to bring these capabilities to market, which is why I decided to join the company. This funding round will be critical to following through on that mission.”
Today, CHAOS Industries is actively developing a suite of products known as Coherent Distributed Networks™, a paradigm-shifting technology category, which enables unprecedented performance for sensors and effectors. The first product in this category, Vanquish™, is a dual-use, multistatic commercial radar that provides early warning and tracking capabilities against unmanned aerial systems (UAS), missiles, and aircraft.
About CHAOS Industries:
CHAOS Industries is a technology company that is building the next generation of defense and critical industry technologies. Applying an engineering-led strategy, CHAOS Industries provides mission-driven, world-class engineers with a platform to build solutions to critical real-world problems. CHAOS Industries’ sprint engineering system leads to rapid prototyping, while deep partnerships with defense and industry ensure real-world application.
CHAOS Industries was founded in 2022 by John Tenet (Epirus and 8VC), Dr. Bo Marr (Epirus and Raytheon), Gavin Hood (Palantir and UK Secret Intelligence Service), and Brett Cummings (8VC and Formation 8).
To learn more, please visit www.chaosinc.com.
