A defence tech investor and builder which counts Sir Jeremy Fleming, the former director of the UK’s security and cyber agency GCHQ, as an advisor has raised $50m.
The funding round in Gallos Technologies, which is still open, was led by Ventura Capital, an early backer of Spotify, and asset manager Aberdeen Investments, with existing investor Lansdowne Partners, the investment management firm, also participating.
Gallos, set up in 2021, was co-founded by former national security official Josh Burch and Dean Jones, an armed forces veteran who also serves as CEO of its portfolio company StirlingX, a drone and data intelligence startup, in which Fleming, the director of GCHQ between 2017 and 2023, is also chairman.
Gallos backs and builds defence, security, and resilience startups. The funding will be used to fund its next cohort of company investments and investment in its platform, it said.
Along with StirlingX, another portfolio company is AI Score, a data prevention startup, in which Fleming is an advisor and Burch, a non-executive director.
The funding comes amid heightened geopolitical tensions and governments investing in new tech on the battlefield.
Fleming, chairman of Gallos’s strategic advisory board, and former director of GCHQ, said: “The world faces rapidly growing and evolving digital threats, fuelled by geopolitical instability and sharpened by the speed at which new and emerging technologies are being turned against us. Gallos’s work enhances our ability to protect both people and businesses, in the UK and other allied nations.”
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