Tuesday, March 26, 2024

Picogrid Gets $12M for Defense Systems

El Segundo-based defense startup Picogrid announced on Tuesday that it has raised $12M in a funding round. The funding was led by Initialized Capital, and also included Starburst Ventures, Credo Ventures, Giant Step Capital, Domino Ventures, and Alumni Ventures. Picogrid is developing a grid-based system to help connect and remotely control sensors, drones, command interfaces, and other defense systems, according to the company; the company was founded by Zane Mountcastle and Martin Slosarik. According to c-ounfder Slosarik, the funding "enables us to accelerate the deployment of our products", which includes "Legion", which Slosarik describes as "a cloud-based API used to connect and control various third-party autonomous systems."