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DISPATCH 03/26 · 26 Aug 2026
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Company Dossier

HavocAI

Rhode Island startup building software-first collaborative autonomy that turns low-cost commercial hulls into coordinated, single-operator unmanned surface vessel swarms.

FILE · havocaiOpen-source file · BattlePolicy ProStatus Private, VC-backedUnverified
HavocAI
Maritime/UnderseaUSPrivate, VC-backed
Rhode Island startup building software-first collaborative autonomy that turns low-cost commercial hulls into coordinated, single-operator unmanned surface vessel swarms.
Founded
2024Jan
HQ
Providence, Rhode Island, USA
Headcount
Undisclosed
Total raised
~$200Mseed ~$11M + $85M + $100M Series A
Valuation
~$907MMay 2026, secondary-market est.
Stage
Series A

Background

HavocAI was founded in January 2024 in Providence, Rhode Island, by CEO Paul Lwin, a former US Navy EA-6B Prowler pilot, and COO Joe Turner, a former surface-warfare officer. Its pitch is a software-first autonomy stack that lets one operator coordinate fleets of unmanned surface vessels — and, increasingly, air and ground systems — in GPS-denied, contested conditions.

The company says it favors cheap commercial hulls over bespoke warships; its 14-foot electric Rampage can reportedly be built ten per day, and it has fielded a 42-foot vessel, a low-profile semi-submersible, and a planned 100-foot mUSV.

By mid-2026 HavocAI reported 30-plus vessels delivered to the Defense Department and 25,000-plus autonomy testing hours.

It has signed partnerships with Lockheed Martin, Hanwha, Leidos, Metal Shark, Senesco Marine and radar firm Tocaro Blue, and acquired Mavrik and Teleo to push beyond the water.

Financial footing

  • ~$200M raised since 2024: ~$11M seed (Sep 2024), $85M growth round (Oct 2025, B Capital), $100M Series A (May 2026)
  • Secondary-market valuation ~$907M
  • Selected with partner PacMar Technologies for the US Navy MUSV at-sea prototype phase (May 2026; testing ~Jun-Oct 2026, $15M per passing design)
  • 30+ USVs delivered to the DoD
  • Tocaro Blue ProteusCore radar integration (Sep 2025)
  • Pursuing the Modular Attack Surface Craft solicitation
  • Backers: B Capital, Lockheed Martin Ventures, In-Q-Tel, Hanwha, Taiwania Capital, SAIC, Scout Ventures, Alumni Ventures, Trousdale Ventures

HavocAI has raised roughly $200 million since 2024 across three disclosed rounds: an ~$11 million seed in September 2024 (about $74 million post-money), an $85 million growth round in October 2025 led by B Capital with In-Q-Tel, Lockheed Martin, Hanwha and Taiwania, and a $100 million Series A announced May 12, 2026 that added SAIC and others.

Secondary-market data (Forge Global) pegs the Series A post-money valuation near $907 million — just shy of unicorn status. Headcount is undisclosed.

Major customers & contracts

The Defense Department is the anchor buyer: HavocAI says it has delivered 30-plus vessels supporting active missions, and the Navy selected the company and partner PacMar Technologies in late May 2026 for the Medium Unmanned Surface Vessel at-sea testing phase.

It is also pursuing the Modular Attack Surface Craft solicitation and has demonstrated GPS-denied autonomy to Ukrainian officials. Management stresses ease of use, claiming Army soldiers learned the interface in 20 minutes. Commercial and port-security applications are pitched but appear secondary to defense.

Leadership & contact surface

Leadership: Paul Lwin
Official site: https://havoc.ai

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Competitive position

HavocAI sits in a crowded, fast-capitalizing USV field. In the MUSV competition alone it faces HII's Romulus, Saronic's Marauder, Edison Chouest, Sea Machines, Birdon/Mythos AI and Leidos. Its differentiation is software-led and hull-agnostic — autonomy installed on inexpensive commercial boats — versus vertically integrated shipbuilders.

The sharpest contrast is Saronic, which raised a reported $1.75 billion at a multibillion-dollar valuation; HavocAI's ~$200 million is an order of magnitude smaller, so it is betting the autonomy stack, not steel and capital, is the durable moat.

Battlefield relevance

Demand is being driven by a turn toward cheap, attritable, coordinated drone boats, sharpened by USV combat in the Black Sea and the distance-and-mass problems of the Indo-Pacific.

HavocAI's pitch — one operator commanding many low-cost hulls that keep working when GPS and comms are jammed — targets the manpower and electronic-warfare pressures navies cite, though large-fleet performance under fire remains largely unproven in public.

Sources & verification

🔒 BattlePolicy Pro — the analyst verdict on HavocAI follows: where this file is strong, where the evidence is thin, and what would change our assessment. Unlock with BattlePolicy Pro →