Xcout IntelWho invests in defense tech startups?
According to Xcout Intel, Andreessen Horowitz backed the most defense-technology startups between 5 November 2024 and 5 November 2026: 7 companies across 9 rounds, followed by Andreessen Horowitz and General Catalyst (7 each).
Among corporate and government investors, Booz Allen Ventures (4), Lockheed Martin Ventures (3) and NATO Innovation Fund (3) backed the most.
| Investor | Country | Companies backed | Rounds | Led |
|---|---|---|---|---|
| Andreessen Horowitz | United States | 7 | 9 | 2 |
| General Catalyst | United States | 7 | 7 | 4 |
| Washington Harbour Partners | United States | 6 | 9 | 4 |
| 8VC | United States | 6 | 7 | 3 |
| Lightspeed Venture Partners | United States | 4 | 5 | 1 |
| Lakestar | Switzerland | 4 | 4 | 1 |
| OTB Ventures | Poland | 4 | 4 | 1 |
| Stepstone | United States | 4 | 4 | 0 |
| T. Rowe Price | United States | 4 | 4 | 1 |
| Sequoia Capital | United States | 3 | 6 | 2 |
How we know
Xcout Intel classifies defense-technology startups from their own descriptions (771 companies; primes and listed companies left out) and links each round to the investors named in its source, over the last 24 months. Rebuilt nightly.
Full figures: Defense tech investors. How every report is built: methodology.
What this does not show
- Not a census: the round list finds about 56% of a reference set of known rounds. Say "rounds we found" and "companies backed", never "all deals".
- Companies backed, not money invested: the ranking does not say who put in the most money.
- Amounts are as reported in the articles linked from the report.
How to cite
Xcout Intel, Defense tech investors, 5 November 2026, intel.xcout.app/answers/defense-tech-investorsQuote with attribution under the licence. These figures update with each edition of the report; give the date above when you quote them.