Picogrid, an El Segundo, CA-based defense technology startup, raised $12M in Seed funding.
The round was led by Initialized Capital with participation from Starburst Ventures, Credo Ventures, Giant Step Capital, Domino Ventures, and Alumni Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by Zane Mountcastle and Martin Slosarikbegan, Picogrid Picogrid builds a unified platform for autonomous systems, creating an open ecosystem of defense technology suppliers.
The core of the company’s technology lies in Legion, its cloud-based API used to connect and control various third-party autonomous systems. This includes drones, unmanned vehicles, and AI-driven surveillance tools, all working together in a cohesive and intelligent ecosystem.
Picogrid now serves military customers across the United States and beyond. Since its launch, the company has won over a dozen federal contracts, including a $1B IDIQ contract from the Pentagon. The technology serves ongoing military operations on bases across the United States and is used by the Ukrainian Ministry of Defense on the front lines of the war in Ukraine.
FinSMEs
26/03/2024