Founded in 2016, Parry Labs is focused on modernising outdated military hardware. Credit: Gorodenkoff/Shutterstock.

Parry Labs, a US company specialising in defence technology, has successfully raised $80m in its first institutional investment round.  

Capitol Meridian Partners led the investment, with contributions from True Ventures, 3Wire Partners, and Teamworthy Ventures. 

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Founded in 2016, Parry Labs has established itself as a digital systems integrator, focusing on modernising outdated military hardware and accelerating the deployment of new developments.  

The company’s open architecture software stack, Stratia, functions as the digital backbone for its edge compute solutions.  

Additionally, Parry Labs offers electronic warfare products that bolster defence customers’ capabilities to meet national priorities swiftly. 

The investment will be channelled towards enhancing Parry Labs’ core technologies.  

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This includes the development of advanced edge capabilities for the warfighter, such as command and control systems, mission-critical software, interoperability features, and sophisticated artificial intelligence computing. 

Parry Labs founder and CEO John Parkes said: “The Parry team is leading the way defence customers can leverage digital engineering and open systems to provide new capabilities to the warfighter at the speed of need.  

“We are excited to partner with Capitol Meridian Partners and this group of investors who have deep expertise in defence and technology, as well as proven track records of supporting high growth companies that will benefit the company in our continued growth as we lead the way in redefining the edge for combat effectiveness.” 

Capitol Meridian Partners founding partner Brooke Coburn said: “Parry Labs has rightly earned its reputation for innovation and quality. The company is a trusted partner to its defence customers and has quickly become a disruptive provider of next generation open mission systems, all under a forward-thinking open mission framework. 

“We are excited to partner with John and the rest of the management team as we invest in new technologies, accelerate the adoption of technology for the warfighter and drive innovation throughout the defence ecosystem.” 

Earlier in August 2024, Anduril, another US defence technology company, secured $1.5bn in Series F financing, reaching a valuation of $14bn.  

Anduril is particularly investing in Arsenal, its software-defined manufacturing platform designed for the mass production of autonomous systems and weaponry, which streamlines the entire product development lifecycle.