UK Defence Tech 2023: Advancing National Security throughInnovation
Authors: Beauhurst & MDOne Ventures
This report (full link below) takes a look at 251 early-stage private companies in the UK, which are developing technologies and products with defence applications, or that have received funding from organisations with a focus on the security sector. Over the past decade, equity investment into defence technology companies has grown significantly, with these companies securing a total of £1.05b since 2013.
This investment, alongside grant funding and as strong pool of innovative, academic spinout companies, makes the sector well-placed for continued success within the UK.
At Labrys, we are delighted to be featured in Beauhurst and MD One Ventures’ report as one of the Defence Tech Companies defining the future of national security through innovation, and alongside market leaders including Alloyed, Herotech8, Flare Bright, and Luffy AI.
Innovation is the lifeblood of defence, and as new threats emerge and geopolitical tensions rise in Ukraine, the Middle East and the South China Sea, staying ahead of the curve has never been more critical to maintaining a definitive competitive advantage. Globally, we are seeing a renewed focus on technological innovation, of an intensity not seen since the early Cold War.
The UK is beginning to recognise that our NationalSecurity future depends on innovation, and has pledged 800M from 2015 to 2025 to fund private sector companies developing technologies that are of strategic advantage.
And the private defence investment market is heating up: Between 2013 and 2022, the total value of equity investment secured by UK defence tech companies rose from £15.4m to a record £295m. In the same time the number of deals almost doubled, rising from 22 to 43.