Dominion Dynamics raises $139M CAD Series A to scale Arctic surveillance network and drone systems
Press Release + Noah Note
Led by Georgian, the round is the largest Series A in Canadian defence history and backs Dominion's drive to revive the country's tradition of building world-defining technology
OTTAWA, ON, June 30, 2026 /CNW/ - Dominion Dynamics, a defence technology company building next-generation defence systems for extreme environments, today announced a $139M CAD ($100M USD) Series A financing led by Georgian. The round included participation from Valor Equity Partners, Expeditions, Lakestar, OMERS, Business Development Bank of Canada (BDC), Royal Bank of Canada (RBC), Deloitte Ventures (Canada), JDY Capital and existing investors British Columbia Investment Management Corporation (BCI), Bessemer Venture Partners, Garage Capital, Golden Ventures and Silent Ventures. It marks the largest Series A funding round in the history of Canadian defence. Dominion has now raised $169M CAD since launching in June 2025.
"Canada once built technology the rest of the world wanted, then convinced itself that was someone else's role. We started Dominion to show the capability never left, and this round lets us build at the scale and speed the moment demands," said Eliot Pence, founder and CEO of Dominion Dynamics.
The financing follows a period of rapid execution and growth. Earlier this year, Dominion deployed its flagship software platform, AuraNet, with the Canadian Armed Forces during Operation Nanook-Nunalivut.
Over two months, across the High Arctic, Canadian Rangers used AuraNet with Dominion's Arctic-hardened sensors to turn scattered communications and data into a single operating picture, supporting mission tracking, planning, and real-time communications. The exercise was entirely self-funded and an example of Dominion's approach to working alongside operators to drive iterative development.
Dominion will use the Series A to accelerate AuraNet and Scout, its Autonomous Collaborative Platform (ACP), which extends the reach of crewed fighter planes into austere environments. The raise will also support Dominion in growing its team to over 100 by the end of the year. Dominion has recruited senior engineering talent from Anduril, Tesla, Rheinmetall, Google, and Rivian, as well as veterans of the Canadian Armed Forces.
"Starting in the Arctic means starting with the hardest problem set on Earth," said Pence. "The engineers joining Dominion understand that technology proven in the world's toughest environment can succeed anywhere."
Now in a significant growth phase, the company moved into a 25,000-square-foot manufacturing facility in Kanata, Ontario, in June and opened a Toronto development office.
Dominion's fundraise lands at an inflection point for Canadian defence. Canada has now met NATO's 2 per cent defence-spending benchmark and has committed, alongside allies, to reach NATO's new 5 per cent target by 2035. Earlier this year, the Government of Canada released its first Defence Industrial Strategy and established the Defence Investment Agency. Ottawa has also pledged to direct 70 per cent of defence spending to Canadian firms, increase defence R&D by 85 per cent, boost exports by 50 per cent, and create 125,000 new jobs. Together, these initiatives represent the most ambitious defence industrial expansion in modern Canadian history.
About Dominion Dynamics
Backed by leading angels, venture funds, and Canadian pension capital, Dominion Dynamics is building the digital backbone for next-generation command and control. Our team draws talent from some of the world's leading defence and technology companies, combining Silicon Valley velocity, Waterloo-calibre engineering, and a hard national security mission focus. Learn more at www.defendthedominion.com.
Noah Note: THESE ARE THE NUMNERS THAT I WANNA SEE. For many reaspns but I digress… It’s hard to inagine that Dominion is just over a year old. I remmeber it before its official launch, as one of the first people to know of Eliots plans. That's when the main focus was on mesh networks, something the company has now deemed as AuraNet. I remember first hearing about the concept, and consider this my public apology, having doubt about its vitality.
Now there is IceSpike: the companies highly-portable, rapidly-deployable autonomous hydrophone system. There is Specter: The companies Tactical Aerostat ISR platform, which is already cool enough because you all know I like that stuff. Taku, the companies autonomous tower system was just demonstrated operating in the ISR role during Operation Nanook-Nunalivut.
Dominion is doing so much and I absolutely love it. They're doing things I remember them dreaming about, but stuff I never expected them to accomplish this quickly. It has been an amazing journey and I can't help but feel very proud of the people there. The team at Dominion are great, with great concepts and ideas.
I know there is more planned, and I know they want to do a lot more. Im excited to see what comes next. Perhaps I should do a rundown of the companies products some time? I think that could be very valuable.
Eliot Pence and Dominion Dynamics are national treasures!