Juno Industries, Led by Ex-Defense Minister, Launches Arctic Security Product Amid Canadian Defense Spending Surge
Juno Industries Inc., a defense tech startup chaired by Canada’s former defense minister, is raising C$10 million by mid-April for Arctic security products. The company is developing Polar Nexus, a communications hub in partnership with Critical Infrastructure Technologies Ltd. Juno's ambition is to compete with traditional defense contractors and capitalize on increased Canadian defense spending, now targeting 3.5% of GDP by 2035, especially for Arctic defense.
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Juno Industries Inc., founded by Canada’s former defense minister, is aiming to raise C$10 million ($7.2 million) by mid-April for Arctic security initiatives. The startup will announce Polar Nexus, a communications hub for drones and sensors, developed with Critical Infrastructure Technologies Ltd.
Juno aspires to be a 'neo-prime,' competing with established defense firms like Lockheed Martin. With a current workforce of 20, the company plans to double its staff shortly. Canadian Prime Minister Mark Carney recently confirmed the government will meet NATO's 2% GDP defense spending target and aims for a 3.5% target by 2035, focusing on Arctic defense as the region becomes more contested.
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