United States · 
Who invested in Vatn Systems?
Vatn Systems's investors include Lockheed Martin, Blue Collective, BVVC, In-Q-Tel and NATO DIANA, and 4 more on record. BVVC led its latest round.
2025
$13MSeed$60MSeries A
United States · Series A startup
Who invested in Vatn Systems
Funding summaryUpdated 26 Oct 2026
$73Mraised across 2 rounds since 2024, from 2 sources
$13MSeed$60MSeries A
- Latest round
- Series A, $60MDec 2025
- Led by
- BVVC
- Step-upi
- 4.6×
- Investors
- 9 (1 led)
The funding story
Each circle is a round, placed by date and sized by amount. The line above is the running total.
- First round
- Seed, $13M Nov 2024
- Biggest round
- $60M Series A · Dec 2025
- Between rounds
- 13 months from the last two
The rounds
- Dec 2025Series A$60M6 new2 returning
Reported by Trousdale Ventures
- Nov 2024Seed$13M3 new
Source recordedSEC filing: $16M sold, first sale Oct 2024
Founders and team
From Vatn Systems's own website: 11 on the team.
- Nelson MillsChief Executive Officer
- Freddie MillsChief Operating Officer
- Geoff ManchesterChief Technology Officer
- Tom HuntleyChief Growth Officer
- Tim SalterVP of Government Relations
- Collin GreenBoard of Advisors
- Constantine SaabBoard of Advisors
- Jim SmithBoard of Advisors
- Paul KennedyBoard of Advisors
- Phil SawyerBoard of Advisors
- Scott HowellBoard of Advisors
Who was in which round
The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.
Everyone who backed them
NATO DIANAInvestment firm1round
Missing a round, or an investor who was in one? Tell us.
Also claim to have backed them
These 5 firms list Vatn Systems as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.
Quick answers about Vatn Systems
How much has Vatn Systems raised?
Vatn Systems has raised $73M across 2 rounds since 2024.
When did Vatn Systems last raise?
Vatn Systems's most recent round was a Series A of $60M in Dec 2025, led by BVVC.
What was Vatn Systems's biggest round?
Its most recent round, $60M in Dec 2025, is also its largest on record.
Who backed Vatn Systems first?
Vatn Systems's first round on record, in Nov 2024, was backed by In-Q-Tel, Lockheed Martin and Blue Collective.
What stage is Vatn Systems at?
Vatn Systems's latest named round is a Series A, in Dec 2025.
Where is Vatn Systems based?
Vatn Systems is based in the United States.
Who led Vatn Systems's rounds?
BVVC led the Series A in 2025.
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