Potomac Tech Wire - Dec. 2
Sterling-based Heven AeroTech Raises $100 Million, Attains Unicorn Status
o Sterling-based Heven Raises $100 Million, Unicorn Status
o McLean-based Range Raises $60 Million in C Round
o Chantilly-based VTG Acquires Fairfax-based Miklos Systems
o Reston-based Electrosoft Receives Investment From DigitalNet.ai
o Antares Raises $96 Million in Series B
> Potomac Tech Wire Event: VC Outlook 2026 - Reston, Dec. 18
o Briefly Noted: Marketbridge, Babel Street, TDI
Sterling-based Heven AeroTech Raises $100 Million; Unicorn Status
Sterling, Va. – Heven AeroTech, a Sterling-based developer of hydrogen-powered Unmanned Aerial Systems (UAS), announced that it has raised $100 million in a Series B round. The company said the round values the company at $1 billion. The financing was led by strategic investor College Park-based IonQ, in addition to previous investor Texas Venture Partners and others. Heven said its platform can achieve flight times over 10 hours and a range of 600 miles.
“Reaching unicorn status validates not just our technology, but our execution,” said Bentzion Levinson, CEO and founder of Heven AeroTech. “This capital will enable us to scale U.S. manufacturing capacity, accelerate quantum-enabled capabilities across our platform, and deliver long-endurance hydrogen-powered systems at the speed and volume our national security customers demand. We’re building for the battlefield of today and tomorrow.”
McLean-based Range Raises $60 Million in C Round
McLean, Va. – Range, a McLean-based AI wealth management platform, has raised $60 million in a Series C round. The round was led by Scale Venture Partners, with participation from Gradient Ventures, Cathay Innovation, 53 Stations and others. Range, which currently manages $400 million in investment funds for its clients, said it aims to provide “institutional-grade financial planning through AI at a fraction of traditional costs.” The company has now raised a total of $100 million. Range also announced that Haroon Mokhtarzada, CEO of Rocket Money, will join the company’s board of advisers.
“The traditional wealth management model is fundamentally broken – slow, expensive, and accessible only to the ultra-wealthy,” said Fahad Hassan, CEO and co-founder of Range. “This new funding ensures we can accelerate our growth – reaching more households, expanding our capabilities, and setting a new standard for what financial advice should look like when powered with hyperfocused AI.”
Chantilly-based VTG Acquires Fairfax-based Miklos Systems
Chantilly, Va. – VTG, a Chantilly-based provider of national security technology, announced that it has acquired Fairfax-based Miklos Systems, a software engineering firm founded in 1993. Financial terms of the deal were not disclosed. The move follows a number of other recent acquisitions by VTG including Loki Solutions, Triaplex, Byte Systems, iota IT and Tunuva Technologies. VTG is backed by majority investor A&M Capital Partners. “Welcoming Miklos Systems to VTG marks another strategic milestone in our growth journey,” said John Hassoun, president & CEO of VTG. “MSI’s culture of technical excellence, integrity, and employee empowerment mirrors our own values and vision.
Reston-based Electrosoft Receives Investment From DigitalNet.ai
Reston, Va. – Electrosoft Services, a Reston-based cybersecurity and digital transformation firm, announced that it has received a strategic investment from Bethesda-based DigitalNet.ai. Electrosoft said under the deal it will be able to tap into DigitalNet.ai’s digital transformation, AI and data analytics capabilities. The amount of the investment was not disclosed. Electosoft said it will continue to operate independently under its current management.
“This partnership is a force multiplier. It elevates our capacity to innovate and scale in support of our customers by leveraging DigitalNet.ai’s groundbreaking AI solutions and service offerings,” said Sarbari Gupta, CEO of Electrosoft. “However, what will not change is our strong management practices, proven technical expertise and unwavering commitment to our customers and their mission.”
Microreactor Firm Antares Raises $96 Million in Series B
Washington, DC – Antares, a California-based advanced nuclear energy startup that has received several important federal contracts, announced that it has raised $96 million in Series B funding. The company has raised $130 million to date and has secured contracts with the United States Air Force, Space Force, Defense Innovation Unit (DIU), and NASA. The round was led by Shine Capital, with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and other investors.
“This funding marks a major milestone for Antares,” said CEO Jordan Bramble. “We’re months away from our first reactor demonstration, which will validate our control systems and neutronics models, develop our testing facility, and fabricate our fuel ahead of our upcoming full-scale electricity producing prototype in 2027. We’ve raised the capital we need to mobilize to provide resilient energy for our partners at the Department of War (DoW) and NASA.”
Briefly Noted
(Bethesda, Md.) Marketbridge, a Bethesda-based marketing consultancy, has named Bob Ray as its CEO. Ray succeeds John Shomaker. Ray previously led Merkle B2B.
(Washington, DC) Babel Street, a Reston-based risk intelligence firm, has named John Larson as its president and Chief AI Officer. Larson previously served as executive vice president and head of AI at Booz Allen Hamilton.
(Washington, DC) TDI, an advisory and risk intelligence firm, has named Vanessa Sussman as managing director and chief marketing officers. Sussman previously served as Chief Marketing and Communications Officer at Eurasia Group and GZERO Media.