Labrys Technologies, a DefenceTech company, has recently secured £4.3 million in seed funding from various investors specializing in DefenceTech such as MD-One, Offset Ventures, Marque Ventures, and Expedition Fund. The company has been working to address the challenge of central coordination of secure verification, tracking, tasking, and payment of a worldwide workforce of teams, networks, and communities on the ground. Labrys aims to solve this problem by building a software platform that integrates user verification (KYC), location-based tracking, encrypted communications, task management, geo-located media overlay, and digital payments into one secure unified application.
This platform is already being used successfully by the company to manage contracts in various sectors including military defence, international development, and financial services. The Labrys team, led by its founders August Lersten and Luke Wattam, who both have extensive experience in military technology applications and operations, are thrilled with the success of their seed funding round.
“The success of our seed funding round is a testament to the dedication and dynamism of the Labrys team. We are excited about the potential to drive innovation in defence technology and in the global development and commercial sectors,” said CEO Lersten.
Labrys Technologies is now poised to continue driving innovation in defence technology and expand its reach in the development and commercial sectors, thanks to this successful seed funding round.