Picogrid

Develops autonomous systems for defense technology

El Segundo, California, United States

About Picogrid

Picogrid develops a unified platform for autonomous systems that integrates various defense technologies, including sensors, drones, and command interfaces. This platform allows for remote control and coordination of these systems, creating a more cohesive defense operation. The company primarily serves military clients, such as the U.S. Army and the Ukrainian Ministry of Defense, and generates revenue through federal contracts, including a significant $1 billion contract with the Pentagon and a $950 million contract for its Lander sensor platform. Picogrid differentiates itself by focusing on creating an open ecosystem for defense technology suppliers, which enhances collaboration and efficiency in military operations. The company's goal is to improve defense capabilities while expanding its manufacturing operations, with a new factory set to open in 2025 to support job creation and local economies.

El Segundo, CaliforniaHeadquarters
2020Year Founded
$11.7MTotal Funding
SEEDCompany Stage
Industrial & Manufacturing, DefenseIndustries
11-50Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Unlimited Paid Time Off
Paid Vacation
Remote Work Options
Stock Options
Professional Development Budget
Home Office Stipend

Risks

Emerging startups like Anduril Industries threaten Picogrid's market share.
Reliance on federal contracts risks revenue if government spending shifts.
Potential delays in new factory construction could impact production and contracts.

Differentiation

Picogrid offers a unified platform for fragmented defense systems.
The company has secured significant federal contracts, including a $1B IDIQ from the Pentagon.
Picogrid's technology is approved for AWS GovCloud, ensuring secure data handling.

Upsides

Increased demand for autonomous systems boosts Picogrid's market potential.
Rising investment in defense tech startups supports Picogrid's growth.
Collaboration with European firms opens new market opportunities for Picogrid.

Funding

Total raised$11.71 M
Latest valuation$60.00 M
StageSEED