Funding benchmark · last 12 months

The typical Series A round in Defence Tech

From 35 Series A rounds announced in Defence Tech over the last twelve months, each read from a named source. Half of them raised between $17M and $41M.

See the roundsAll benchmarks

Series ADefence Tech
Median round$25M
$11M1 in 10 below$17M – $41Mmiddle half$55M1 in 10 above

35 rounds counted · recounted nightly

Rounds counted35Series A rounds in Defence Tech, last 12 months
Against worldwide+25%vs the $20M worldwide median
Since last round-too few earlier rounds on record
Lead named89%of these rounds name the investor who led

The trend

Median Series A round, quarter by quarter

From $24M in 2025 Q3 to $34M in 2026 Q2. Quarters with fewer than five rounds are left blank.

'24 Q43 rds
'25 Q12 rds
'25 Q21 rds
$24M'25 Q35 rds
'25 Q44 rds
$22M'26 Q19 rds
$34M'26 Q210 rds
'26 Q34 rds

Who leads

The most active leads

The firms that led the most Series A rounds in Defence Tech this year.

  1. 18VC2 led
  2. 2Washington Harbour Partners Lp2 led
  3. 3NATO Innovation Fund (NIF)2 led
  4. 4New Enterprise Associates1 led
  5. 5Bessemer Venture Partners1 led
  6. 6First Round Capital1 led

Recent examples

Series A rounds in Defence Tech, latest first

How to read these figures

They come from announced rounds. Large rounds are almost always announced and many small ones never are, so the true typical round is probably a little smaller than shown, most of all at pre-seed and seed. Every round behind them is in the record with its source. How we read rounds.

Other stages in Defence Tech

Seed$8.8M

Series A elsewhere

AI$21MUnited States$25MFintech$16MHealthcare$20MUnited Kingdom$14MRobotics$28MBiotech$32MConstruction$23MCybersecurity$25MBig Data & Analytics$21MSoftware$18MEnergy$26MManufacturing$19MEnterprise Software$21MIndia$10MLogistics$13MHardware & Electronics$25MFinancial Services$20MClimate Tech$15MAustralia$15MHealthtech$13MSaaS$17M

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Q&A

How big is a typical Series A round in Defence Tech?

The median is $25M, from 35 Series A rounds announced in Defence Tech in the last twelve months. Half of them raised between $17M and $41M; one in ten raised more than $55M.

Which rounds are counted?

Rounds announced in the last twelve months with a stated amount and stage, each read from a named article or filing. A page is only published where at least 30 rounds stand behind it.

Are these figures biased?

Towards larger rounds, yes. Big rounds are announced; many small ones never are. So the true typical round is probably a little smaller than the figure here, especially at pre-seed and seed.

How often does it change?

The figures are recounted from the record every night, as new rounds are read.