North Vector Dynamics (NVD), a Calgary company founded in 2022, said on October 26, 2026 that it closed a Series A round exceeding US$20 million, about C$29 million, led by Tech Horizons, a European venture fund focused on defence, security and resilience technology. The company’s release, distributed through GlobeNewswire, puts its valuation above US$90 million. Tech Horizons also invested in NVD’s seed round.

Investors

Other investors named in the release are ONE9, Garage Capital, CSG, Ripple Ventures, Feld Ventures and Conconi Growth Partners, plus unnamed others. A separate release dated August 5, 2026, which Lens could not open, is headlined as a strategic investment in NVD by the European industrial defence group CSG; Dealroom’s headline for it gives a $90 million valuation. The October release does not update the valuation or give the size of CSG’s stake.

The CM-70

NVD describes the CM-70 as a low-cost, precision-guided counter-drone missile interceptor, ITAR-free and built on an open architecture for integration into layered air defence. The release does not disclose its weight, speed, range or price.

Use of funds

  • Build out manufacturing and assembly.
  • Increase vertical integration and secure the supply chain.
  • Open offices in the United States and Europe.
  • Attract new talent.

Customers, testing and the company

  • No customers are named. The company says it is a trusted partner of defence primes and systems integrators, without naming any.
  • NVD says CM-70 development has been supported by early funding and ongoing testing support from Defence Research and Development Canada, an agency of the Department of National Defence, and that the missile aligns with Canada’s Defence Industrial Strategy.
  • The co-founders are CEO Paul Ziadé and chief science officer Craig Johansen, both former University of Calgary engineering professors, and Colin Hill, who works on rocket propulsion and aerodynamics. General (Ret.) Tom Lawson, a former senior military commander of the Canadian Armed Forces, is a strategic advisor.
  • The company says it is building a full-spectrum missile capability from counter-UAS to hypersonics.

What was said

Ziadé said “Allied forces need affordable, producible air defence at scale, and they need it now,” and that the round gives NVD “the capital and the industrial reach to move from validation toward production volume.” Matej Luhový, a partner at Tech Horizons, said his fund invested “this spring” as NVD’s first European investor and was convinced “above all by the exceptional calibre of its founding team and its technological vision.”

Not independently verified

The valuation, the round size and every product claim come from the company. Other outlets reported the round as $21 million (€18.76 million) and $20.7 million, according to search-result summaries; the release says “exceeding USD 20 million.”

Related: Lens’s overview of drone-interceptor startups.

Sources and notes

Sources: North Vector Dynamics release via BNN Bloomberg, October 26, 2026; GlobeNewswire headline, August 5, 2026 (page not opened). Notes: the CM-70 is not shown in the photo. Thumbnail photo: a Marine firing a FIM-92A Stinger missile at an unmanned aerial target during training at San Clemente Island, July 28, 2009, by Christopher O’Quin, U.S. Marine Corps, public domain, via Wikimedia Commons. Illustrative stand-in: it shows a different short-range missile, not the CM-70.

Image: Christopher O’Quin, U.S. Marine Corps (public domain), via Wikimedia Commons.