Project A

We are proud to announce that Project A has been admitted to the NATO DIANA Capital Network - the trusted, Alliance-wide community of investors backing the dual-use technologies that will define the security and resilience of the transatlantic Alliance. Joining the NDCN places us alongside leading sovereign, institutional, and venture investors from across the 32 NATO nations, all committed to deploying capital into the deep-tech and defence innovation companies emerging from DIANA’s accelerator programme. We look forward to working with the DIANA team, our fellow members, and the extraordinary innovators across the Alliance over the months ahead.

To manage €1.2B in AUM at scale, you need a data architecture that can keep up. That's what we've built for Project A, together with Quantium. Project A runs 140+ investments across multiple fund vehicles. Fund accounting, portfolio monitoring, and investor reporting all lived in separate systems, held together by manual reconciliation every quarter. Our team took full ownership of delivery: scope, timeline, risk, all of it. That meant: → Migrating 10+ years of historical fund data without a gap in reporting → Moving experienced finance teams onto Quantium's platform, without losing a live reporting cycle to do it The result: €1.2B in AUM running on one unified platform ~70% reduction in reporting timelines 10+ years of historical fund data migrated 1 system replacing fragmented accounting, portfolio, and investor tools “If you're a fund considering this kind of platform shift, the technology is only half the story. Having a partner like A11 who takes real project ownership is what actually determines whether it works.” – Florian Heinemann, Founding Partner at Project A 🤝 Team work makes the dream work. Shoutout to Marvin Pflaume, Anton Grabovski, CFA, Mridula Narayan, Derek Wilhelm

One year after founding, Hades has won the exploration license for Storkwitz - central Europe's best-explored and largest rare earth deposit in Central Europe. Hades' high-power laser drilling system is one of, if not the, best shot Europe have at rewiring these fundamental supply chains. Since we clearly don't have the time to wait for the incumbent industry to adopt this breakthrough, Dr Max Werner, Björn Dresslerörn, Dan Gengenbach and the Hades team have to vertically integrate and do it themselves. In Hades' words: 𝐒𝐨𝐯𝐞𝐫𝐞𝐢𝐠𝐧𝐭𝐲 𝐛𝐞𝐠𝐢𝐧𝐬 𝐬𝐮𝐛𝐬𝐮𝐫𝐟𝐚𝐜𝐞. Project Details: https://lnkd.in/e2ryx7hE Faz Publication: https://lnkd.in/emaAd4cG #startup #tech #Europe #soverignty #mining #energy

Flow AI has been acquired by Aiven. Six years ago, Karolus and I started a company because GPT-3 had convinced us that language models were the next platform shift. Our first product, Flowrite, put AI inside people's email. It showed us that the hard problems were in getting AI to work with real-world data. We doubled down and had our early AI engineer, Bernardo, step up as a co-founder. Over the past year we've built the missing infrastructure for running analytical agents reliably on enterprise data. Today, we're taking everything we've built and learned into Aiven to build the next generation of AI infrastructure. Agents are now the new medium of usage and Aiven is in a position to pioneer both the interface agents operate in and how agents are built. We couldn’t be more excited to go after both. The best part is that our whole team is making the move, continuing together inside Aiven with a much bigger canvas. I'm convinced this is where we can make the biggest impact and help Aiven become a generational AI infrastructure company. To our early believers, investors, teammates and customers who trusted us with real problems: thank you. More to read in comments.

Modern battlefields generate more sensor data than any single system can process alone. Project Q has raised a €15m Series A, led by Expeditions, with participation from Project A, HENSOLDT and Heliad. The company built HYDRIS, an open-source platform that unifies radar, optronics, computer vision and acoustic signals into one real-time picture, warning troops of incoming drones and helping protect critical assets on the ground. Technology providers integrate once and reach the entire network, instead of building custom connections for every customer. We backed Project Q at seed and again at Series A. As defence moves further towards software-defined systems, integration stops being a technical detail and becomes the layer that determines how fast armed forces can adopt what works. Read more in Sifted: https://lnkd.in/e9P_bmP5 Congratulations, Philipp Bartkowski and Leonard Wessendorff.

Freight forwarding moves 11% of global GDP. Most of it still runs on email threads and spreadsheets. Nexcade just raised a $6m seed round to change that. Forwarders sit at the centre of every shipment, coordinating customers, carriers, agents, warehouses and customs teams. Each one carries different context: rates, margin rules, exceptions, trust built over years. Nexcade's AI agents read customer requests, understand shipment context, procure rates and prepare quotes, with the operator in control throughout. Since coming out of stealth in October 2025, Nexcade has moved from design partnerships to live deployments with forwarders including XPO, Zencargo, Cardinal Global Logistics and CargoTrans. ARR has more than tripled since the start of the year. We led the round, joined by Connect Ventures, MMC Ventures and Entropy Industrial Capital, alongside angel investors from Vanguard Logistics, n8n, Altana, Sedna, UiPath and Cleo. Congratulations Dan, Tasho and team.

Quantum Systems has closed a $1.2b Series D at a valuation of around $8b, co-led by Blackstone, Noteus Partners, Airbus, and Advent. Five years ago, this category of company did not exist. Today it raised Europe's largest defence technology round. The capital will expand production capacity, strengthen supply chain resilience, scale delivery across allied markets, and deepen investment in software and AI. The numbers behind it: more than 19,000 missions flown in Ukraine in 2025 alone. Production across Germany, Ukraine, the United States, Australia, Romania, the United Kingdom, and the Baltics. Triple-digit growth, double-digit profitability. We first partnered with Quantum Systems in October 2022, before the category it now defines had a name. European sovereignty will be built by companies that execute at this level. Congratulations Florian Seibel, Sven Kruck and Jonas Jarosch. Read more in Bloomberg: https://lnkd.in/dcxqtEaJ