# Defense Metals funding: rounds and investors

> Defense Metals has raised $1.4M across 1 round since 2026. Investors include Natural Resources Canada. Every round with its source.

Source: https://millionrounds.com/company/defense-metals (Millionrounds; every figure on the page links to its filing or article)

Canada · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Defense Metals*

One round we have observed, with the one investor named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy

Raised 8 months ago

Funding summary Updated 26 Oct 2026

**$1.4M** raised across 1 round since 2026, from 1 source

- **Latest round:** Grant, $1.4M Mar 2026
- **Investors:** 1

See who backed them

## The rounds

- **Mar 2026** Grant **$1.4M** [Natural Resources Canada](https://millionrounds.com/fund/natural-resources) Source recorded SEC filing: $1.7M sold, first sale Oct 2025

## Founders and team

From Defense Metals's own website: 3 on the team.

- **Mark Tory** President, CEO + Director
- **David Baker** CFO and Head of Strategy​
- **Michelle Tanguay** VP Environment & Social Performance

## Everyone who backed them

[Natural Resources Canada](https://millionrounds.com/fund/natural-resources) Government **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=defense-metals).

## Quick answers about Defense Metals

### Who invested in Defense Metals?

Defense Metals's investors include Natural Resources Canada.

### How much has Defense Metals raised?

Defense Metals has raised $1.4M across 1 round since 2026.

### When did Defense Metals last raise?

Defense Metals's most recent round was a Grant of $1.4M in Mar 2026.

### What was Defense Metals's biggest round?

Its most recent round, $1.4M in Mar 2026, is also its largest on record.

### Who backed Defense Metals first?

Defense Metals's first round on record, in Mar 2026, was backed by Natural Resources Canada.

### What stage is Defense Metals at?

Defense Metals's latest named round is a Grant, in Mar 2026.

### Where is Defense Metals based?

Defense Metals is based in Canada.

## Companies like Defense Metals

In the same sector, and raised in the last eighteen months.

[**Kanin Energy** $100M · Sept 2026](https://millionrounds.com/company/kanin-energy)[**Summit Nanotech** $3.0M · Sept 2026](https://millionrounds.com/company/summit-nanotech)[**General Fusion** $241M · Jul 2026](https://millionrounds.com/company/general-fusion)[**NORAM Electrolysis Systems Inc** $4.0M · Jun 2026](https://millionrounds.com/company/noram-electrolysis-systems-inc)[**Foremost Clean Energy** $35K · Jun 2026](https://millionrounds.com/company/foremost-clean-energy)[**Full Circle Lithium** $3.5M · Jun 2026](https://millionrounds.com/company/full-circle-lithium)

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