Aidan Daly
Defense technology company Parry Labs raised $80 million in growth capital from its first institutional investment round. Capitol Meridian Partners led the investor group, joined by True Ventures, 3Wire Partners and Teamworthy Ventures, Parry Labs said Wednesday.
John Parkes, co-founder and CEO of Parry Labs, said, “The Parry team is leading the way defense customers can leverage digital engineering and open systems to provide new capabilities to the warfighter at the speed of need.”
The company intends to use the fresh funds to accelerate its investments in core technologies and bring edge capabilities to the warfighter, including command and control, mission-critical software, interoperability and artificial intelligence computing.
Parkes adds that Capitol Meridian Partners and others in the investor group have deep expertise in defense and technology. These funders support high-growth companies like Parry Labs in their growth plans and continuous improvement of combat effectiveness.
Brooke Coburn, the founding partner at Capitol Meridian Partners, said Parry Labs is not only a trusted partner to its defense customers but has quickly transformed into a disruptive provider of next-gen open mission systems under a forward-thinking open mission framework.
Parry Labs’ open architecture software stack, Stratia, serves as the digital backbone of the company’s edge compute solutions. Its electronic warfare products can help defense customers accelerate their key national priorities
