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- 📝 ARX raises €9 million
📝 ARX raises €9 million
News of the Day
ARX Robotics, founded by former German military personnel, has developed an "Amazon Firestick" for legacy defence equipment, enabling AI-driven upgrades for outdated systems. The startup's ARX Mithra OS turns analog military vehicles into autonomous, interconnected units with over-the-air updates, leveraging hardware like cameras and sensors. ARX raised €9 million in seed funding in June, led by the NATO Innovation Fund, and secured a major German military contract for deployment in Ukraine. CEO Marc Wietfeld highlights the need to modernize NATO’s analog fleets, citing compatibility issues with new battlefield tech like drones and AI. ARX claims no direct competitors, offering a cost-effective alternative to replacing aging systems amid shrinking military budgets.
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Never, ever forget. Long-term track records on an asset class that implodes every few years are total BS. Anyone stating them needs to be called out as a pumper looking for a greater fool.
Last 10 Years - Largest Drawdowns
Gold: -22%
Bitcoin: -78%, -82%, -55%.
#StoreOfValue
— Lawrence McDonald (@Convertbond)
1:39 PM • Dec 5, 2024
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