Defense technology firm buys Dive Technologies
Defense technology company Anduril Industries has acquired Boston-based subsea robotics designer and manufacturer Dive Technologies.
Anduril said that this acquisition expands its suite of autonomous systems, extends its unmanned capabilities to the undersea domain, and significantly accelerates its strategic growth.
“The world beneath the ocean is completely different than the one above it. It requires different types of sensors, modalities, and problem-solving than the work we are doing in air, land and space,” said Anduril co-founder and CEO Brian Schimpf.
“The Dive Technologies team brings unparalleled, deep domain expertise under the sea as well as a shared commitment to transforming U.S. and allied military capabilities with advanced technology. We are thrilled to have them on board.”
Tanis Venture Management led Dive Technologies’ most recent fundraising round in 2020 and served as the company’s outside board director.
Mill Town Capital provided the first institutional funding in 2018 and participated in each equity round. The two companies were later joined in their investments by VTC Ventures.
“To go from having a novel idea to being a category pioneer in autonomous underwater vehicles (AUVs) in just three short years takes a very special team and support from a network of experts,” said Sam Russo, co-founder and COO/CSO of Dive Technologies.
“From helping us build the infrastructure of a rapidly saleable company to forging a technical relationship with Virginia Tech, our investors were in the trenches with us and helped to make Dive a success. We look forward to further bolstering our ambitious maritime vision with Anduril Industries.”
Last month, Dive Technologies secured a share of $3.4 million funding from the U.S. National Offshore Wind Research and Development Consortium (NOWRDC) for its autonomous underwater vehicle (AUV) technology.
The support will be used to bring the company’s next-generation AUV technology forward and improve subsea infrastructure monitoring for the offshore wind industry.