HavocAI raises $85M to sell autonomous boats to the U.S. military | Fortune

HavocAI, a Rhode Island-based startup led by CEO Paul Lwin, secured $85 million in venture funding to accelerate production of autonomous military vessels.

The defense tech company transforms commercial boats into unmanned surface vehicles using AI-powered autonomous software, similar to self-driving car technology. Founded in January 2024, HavocAI has already delivered boats to the U.S. military and allies, with plans to manufacture thousands of affordable autonomous vessels. The startup aims to create distributed sensor networks and supply transport capabilities while competing for over $3.3 billion in federal funding allocated for unmanned surface vessel development.

• Successfully sold dozen 14-foot "Rampage" vessels to the Navy for $100,000 each after debut demonstration
• Raised nearly $100 million total funding with backing from major investors including Lockheed Martin and Taiwan's Taiwania Capital
• Currently testing vessels ranging from 14-foot boats to 100-foot Atlas vessels for military applications
• Faces international attention after being sanctioned by China for Taiwan arms sales alongside other defense contractors