Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #74

Vannevar Labs

Recipient: VANNEVAR LABS, INC.; VANNEVAR LABS, INC · UEI DTMHJS23G4V7

Obligated more than it has raised: about $2.43 in federal money for every $1 of private capital. 92% of it came through Other Transactions (OTs).

Capital raised
$91.0M
Federal obligations, FY2020–FY2026
$221.2M
Raised per $1 obligated
0.41×
Latest valuation
—
Not disclosed

Obligations by fiscal year

$M
0 FY20 1.6 FY21 22.7 FY22 29.4 FY23 53.8 FY24 65.3 FY25 48.3 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$15.9M
Other Transactions
$203.0M
Subawards
$2.3M

Cite this: Defense Tech Signals, "Capital vs. Contracts: Vannevar Labs," data as of 2026-11-08, https://data.defensetechsignals.com/c/vannevar-labs/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: SVDG 2026 report total, plus later announced rounds. Obligations last refreshed 11/5/2026.