New North Ventures leads pre-seed round for M2 Foundry

By AI, Created 10:36 AM UTC, May 20, 2026, /AGP/ – New North Ventures led M2 Foundry’s pre-seed fundraising round as the dual-use software company pushes ahead on tools for national security and complex private sector systems. The funding will support R&D, hiring, and partnerships as M2 Foundry builds technology for financial system security, supply chain resilience, and high-stakes decision support.

Why it matters: - M2 Foundry is building dual-use software for problems that cut across national security and private industry. - The company is targeting critical workloads where AI, economics, trade, and security overlap. - The new capital is intended to help move promising technology from research into commercial use. - M2 Foundry is positioning its platform to address the so-called “valley of death” that often slows commercialization of government-linked innovation.

What happened: - New North Ventures led a pre-seed fundraising round for M2 Foundry, Inc. - An angel syndicate organized by EnFi, Inc. co-founder Scott Weller also backed the round. - The announcement came on May 7, 2026, from Arlington, Virginia. - M2 Foundry is a dual-use software company developing tools for national security and complex private sector systems.

The details: - M2 Foundry is a current DARPA performer. - The company’s R&D focuses on the intersection of economics, trade, national security, AI, and complex systems. - M2 Foundry is building technology relevant to financial system security, supply chain resilience, and decision-support in high-stakes environments. - The founding team includes Dr. Catherine Havasi, Mike Widener, and Mike Sanders. - Dr. Havasi previously led the Digital Intuition group at the MIT Media Lab and moved lab technology into startups and license deals. - Widener brings more than 25 years of CIA experience, including 17 years in foreign field deployment. - Widener later led the CIA group focused on the national security implications of emerging technologies. - Sanders has more than 20 years of experience in enterprise technology go-to-market and operations across venture- and PE-backed companies. - Sanders’ background spans commercial, government, and dual-use markets. - The pre-seed proceeds will support continued R&D program growth, key hires, design partner engagement, and additional business infrastructure. - M2 Foundry was established in 2025 and is headquartered in Arlington, Virginia. - New North Ventures is an early-stage venture capital firm focused on dual-use defense technology at the intersection of national security and innovation. - New North Ventures backs early-stage companies in cyber, artificial intelligence, and deep tech.

Between the lines: - The investor mix suggests the round is as much about operator credibility as it is about capital. - M2 Foundry’s pitch blends public-sector relevance with commercial utility, which can widen the addressable market if the company can execute. - The company’s emphasis on platform economics signals an effort to create reusable technology rather than one-off solutions. - Jeremy Hitchcock, managing director of New North Ventures, said the firm sees M2 Foundry as a platform that compounds across multiple companies. - Dr. Havasi said the next generation of critical infrastructure is economic, AI, and supply chain security.

What’s next: - M2 Foundry will use the new funding to expand research and development. - The company will add staff and deepen work with design partners. - M2 Foundry will continue building business infrastructure to support commercialization. - The company is expected to keep advancing technology at the boundary between government R&D and commercial markets.