# Vatn Systems funding: rounds and investors > Vatn Systems has raised $73M across 2 rounds since 2024. Investors include Lockheed Martin, Blue Collective and BVVC. Every round with its source. Source: https://millionrounds.com/company/vatn-systems (Millionrounds; every figure on the page links to its filing or article) United States · [Series A startup](https://millionrounds.com/companies) # Who invested in *Vatn Systems* 2 rounds we have observed, with the 9 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Automotive & EVs Defence Tech IT Services Logistics Raised 11 months ago Funding summary Updated 26 Oct 2026 **$73M** raised across 2 rounds since 2024, from 2 sources **$13M** Seed **$60M** Series A - **Latest round:** Series A, $60M Dec 2025 - **Led by:** BVVC - **Step-up i:** 4.6× - **Investors:** 9 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2025 **$13M** Seed **$60M** Series A - **First round:** Seed, $13M - **Biggest round:** $60M - **Between rounds:** 13 months ## The rounds - **Dec 2025** Series A **$60M** *6 new* *2 returning* [BVVC](https://millionrounds.com/fund/bvvc) Lead [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) [NATO DIANA](https://millionrounds.com/fund/nato-diana) [Geodesic Capital](https://millionrounds.com/fund/geodesic-capital) [Blue Collective](https://millionrounds.com/fund/blue-collective) [Trousdale Ventures](https://millionrounds.com/fund/trousdale-ventures) [SAIC](https://millionrounds.com/fund/saic) [Hanwha](https://millionrounds.com/fund/hanwha) Reported by Trousdale Ventures - **Nov 2024** Seed **$13M** *3 new* [In-Q-Tel](https://millionrounds.com/fund/iqt) [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) [Blue Collective](https://millionrounds.com/fund/blue-collective) Source recorded SEC filing: $16M sold, first sale Oct 2024 ## Founders and team From Vatn Systems's own website: 11 on the team. - **Nelson Mills** Chief Executive Officer - **Freddie Mills** Chief Operating Officer - **Geoff Manchester** Chief Technology Officer - **Tom Huntley** Chief Growth Officer - **Tim Salter** VP of Government Relations - **Collin Green** Board of Advisors - **Constantine Saab** Board of Advisors - **Jim Smith** Board of Advisors - **Paul Kennedy** Board of Advisors - **Phil Sawyer** Board of Advisors - **Scott Howell** Board 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. **Seed** 2024 **Series A** 2025 [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) [Blue Collective](https://millionrounds.com/fund/blue-collective) [BVVC](https://millionrounds.com/fund/bvvc) L [In-Q-Tel](https://millionrounds.com/fund/iqt) [NATO DIANA](https://millionrounds.com/fund/nato-diana) [Geodesic Capital](https://millionrounds.com/fund/geodesic-capital) [Trousdale Ventures](https://millionrounds.com/fund/trousdale-ventures) [SAIC](https://millionrounds.com/fund/saic) [Hanwha](https://millionrounds.com/fund/hanwha) ## Everyone who backed them [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) Corporate VC **2** rounds [Blue Collective](https://millionrounds.com/fund/blue-collective) VC firm **2** rounds [BVVC](https://millionrounds.com/fund/bvvc) VC firm **1** round, led 1 [In-Q-Tel](https://millionrounds.com/fund/iqt) Accelerator **1** round [NATO DIANA](https://millionrounds.com/fund/nato-diana) Investment firm **1** round [Geodesic Capital](https://millionrounds.com/fund/geodesic-capital) VC firm **1** round [Trousdale Ventures](https://millionrounds.com/fund/trousdale-ventures) Family office **1** round [SAIC](https://millionrounds.com/fund/saic) Investment firm **1** round [Hanwha](https://millionrounds.com/fund/hanwha) VC firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=vatn-systems). ## 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. [Decisive Point](https://millionrounds.com/fund/decisive-point) VC firm Per its own site [The Veteran Fund](https://millionrounds.com/fund/the-veteran-fund-2) VC firm Per its own site [Dauntless Ventures](https://millionrounds.com/fund/dauntless-ventures) VC firm Per its own site [Centre Street Partners](https://millionrounds.com/fund/centre-street-partners) Private equity Per its own site [Coalition Ventures](https://millionrounds.com/fund/coalition-ventures) Venture studio Per its own site ## Quick answers about Vatn Systems ### 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. ### 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. ## Companies like Vatn Systems In the same sector, and raised in the last eighteen months. 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