UK-Based Labrys Raises $5.5M Seed Round
U.K.-based Labrys Technologies raised a $5.5 million seed round led by Project A Ventures and supported by Marque Ventures, MD One Ventures, Offset Ventures, and Expeditions Fund.
CEO August Lersten, a former Royal Marine Commando, and COO Luke Wattam bring firsthand experience from their extensive work across Africa, the Middle East, and Asia, ensuring the platform's design is grounded in real-world needs.
“Labrys is perhaps best described as Slack-meets-location-meets-payments for both military and humanitarian scenarios…This latest funding is amongst the biggest Seed round for a defense tech startup in Europe to date, and is emblematic of how Defense is no longer off limits for investors, as we saw this year during TechCrunch Disrupt.”
- Mike Butcher, TechCrunch
In the fast-paced and often chaotic environments of humanitarian crises, reliable and secure communication is paramount. Traditional methods like WhatsApp, while popular, come with significant limitations. Labrys addresses these challenges head-on by merging communication, location tracking, and digital payments in a single platform - blending the messaging efficiency of Slack, precision location services, and integrated payment solutions relevant for both military and humanitarian operations.
The Labrys Edge
The Labrys platform, encompassing Axiom C2 and Axiom Communicator, introduces a suite of advanced features:
KYC/E Verification: Ensures interactions with verified individuals only.
Encrypted Communications: Maintains the confidentiality and integrity of messages.
Task Management: Streamlines operations and coordination.
Geo-location capabilities: Tracks individual users in real-time.
Digital Payments via Crypto Stablecoins: Facilitates secure and swift financial transactions.
This comprehensive toolkit has already proven its value in various challenging scenarios, including the evacuation of persecuted minorities in Afghanistan and support operations during the Kakhovka Dam breach in Ukraine.
The Bigger Picture
The Labrys seed round is one of the largest for a defense tech startup in Europe, symbolizing the growing acceptance and interest in defense technologies among investors. The startup's dual-use capability—serving both civilian and military operations—positions it in a burgeoning market, with the global Command and Control Systems market projected to reach $28 billion by 2028.
“Marque Ventures is excited to support Labrys Technologies in its mission to empower organizations to manage teams across the globe's most challenging environments, efficiently and securely.”
- Jake Chapman, Marque Ventures
For more insights into Labrys Technologies' groundbreaking approach and their recent funding success, check out the TechCrunch article.