Exclusive: Military energy upstart Chariot Defense emerges with millions in hand
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Chariot Defense emerged from stealth Wednesday with $8 million in seed funding and a stated goal of energizing militaries.
Why it matters: Defense technologies of today and tomorrow — drones, sensors, jammers, mobile command posts — are power-hungry. They chew through fuel and batteries, forcing risky resupply runs.
- The Russia-Ukraine war exemplifies the challenges of keeping frontline units topped off. Wrecked logistics lines litter the battlefield.
- Meanwhile, worsening weather jeopardizes established bases and their power grids.
What they're saying: "Power is this underappreciated problem that's now becoming apparent," Chariot CEO Adam Warmoth told Axios. "We're solving it by actually getting on the ground, in the field with users, and not just burying ourselves in a lab for years."
Catch up quick: Chariot supported the U.S. Army's transforming in contact initiative as well as the Defense Innovation Unit's Artemis drone project.
- Its initial offering is known as Amphora, a "power lake, where, basically, you put any power in and you can pull any power out," Warmoth said.
- "This allows people to operate for longer periods in contested, denied environments," he added, "because they're able to reduce their signature, they're able to much more flexibly pull power from the sources they have."
Zoom in: The company, founded late last year, is based in south San Francisco. Its leadership team has ties to Anduril Industries, Apple, Archer Aviation, Tesla and Uber.
Follow the money: The seed round was led by General Catalyst and XYZ Venture Capital.
- Other backers include Cubit Capital, Forward Deployed VC and Pax.
The bottom line: "While everyone focuses on building smarter weapons, Chariot is building the intelligent power systems that makes them all work," Ross Fubini, managing partner at XYZ, told Axios.
- "This isn't just better batteries or quieter generators — it's positioning to become the power prime contractor for modern warfare."
Go deeper: Nuclear-battery maker with defense contracts raises $50 million
