TLDR:
Parry Labs, a defense technology company, raised $80 million in their first institutional investment round led by Capitol Meridian Partners. The funding will be used to accelerate investments in core technologies and bring new edge capabilities to the warfighter.
Article Summary:
Parry Labs, a defense technology company based in Alexandria, VA, announced the completion of an $80 million raise in their first institutional investment round. The funding was led by Capitol Meridian Partners and included True Ventures, 3Wire Partners, and Teamworthy Ventures. The growth capital will primarily be used to accelerate investments in the company’s core technologies and to bring new, advanced edge capabilities to the warfighter, such as command and control, mission critical software, interoperability, and advanced AI computing.
The CEO of Parry Labs, John Parkes, expressed excitement about partnering with Capitol Meridian Partners and the group of investors who have expertise in defense and technology. Brooke Coburn, Founding Partner at Capitol Meridian Partners, praised Parry Labs for its reputation in innovation and quality. True Ventures Partner, Gus Coldebella, highlighted the importance of technology partners for legacy and next-generation defense systems to transition to tactical edge computing.
Parry Labs specializes in digital systems integration for modernizing legacy platforms and accelerating new platform development. They offer an open architecture software stack, known as Stratia, that serves as the digital backbone of their edge compute solutions. The company’s mission is to deliver rapid capability deployment and a decisive combat advantage in the modern battlespace.
In conclusion, the $80 million funding round will enable Parry Labs to continue leading the way in redefining the edge for combat effectiveness and driving innovation throughout the defense ecosystem.
