Dominion Dynamics raises $139M CAD Series A, the largest defence startup round in Canadian history

Dominion Dynamics, a defence technology company focused on extreme environments, announced a $139M CAD ($100M USD) Series A financing led by Georgian. The round included Valor Equity Partners, Expeditions, Lakestar, OMERS, Business Development Bank of Canada, Royal Bank of Canada, Deloitte Ventures Canada, JDY Capital, and existing investors. The company said the round is the largest Series A in Canadian defence history. Dominion has raised $169M CAD since launching in June 2025. Eliot Pence, founder and CEO, said Canada once built technology the world wanted and then stepped away, adding that the round allows the company to build at the scale the moment demands. The company deployed its software platform AuraNet with the Canadian Armed Forces during Operation Nanook-Nunalivut earlier this year. Canadian Rangers used AuraNet with Dominion's Arctic-hardened sensors across the High Arctic over two months for mission tracking, planning, and real-time communications. Dominion said it will use the capital to accelerate AuraNet and Scout, its Autonomous Collaborative Platform, and grow its team to over 100 by year-end. The company moved into a 25,000-square-foot manufacturing facility in Kanata, Ontario, in June and opened a Toronto development office.