2:00 PMFinancial Times
Wars trigger $12bn venture capital rush into defence tech
Summary
Venture investors have poured about $12bn into defence technology this year, already exceeding total funding in 2025. Rapidly rising valuations are accelerating dealmaking while raising concerns that parts of the sector are entering a hype cycle.
Why it matters
If valuations outrun real procurement and deployment, defence tech will see fast consolidation and painful down-rounds that reshape who supplies critical military capability.