McLean, Virginia-based government contracting giant Booz Allen Hamilton has tripled its commitment to investing in promising startup companies, specifically in cybersecurity, defense and intelligence.
Booz Allen Ventures, launched with $100 million in 2023, has invested in 17 startups to date, most recently among backers of Syracuse, New York-based Hidden Level Inc., which develops technology to detect and monitor unmanned aerial systems such as drones.
It has increased its venture capital commitment to $300 million, and expects to invest in 20 to 25 startups in the next five years, the firm said.
The company has not disclosed the size of any individual investments it has made to date but said it has now used up almost all of that original $100 million in venture capital funding.
“Booz Allen Ventures will remain focused on bringing the most promising commercial technologies to essential missions, from increasing space domain awareness to strengthening border security and modernizing the nation’s military,” the company said in a statement. It said those expansions were in addition to its current areas of focus: artificial intelligence, cyber, defense tech and deep tech.
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