100+ Space Sector Leaders Convene to Envision a Bold, Collaborative Course for Commercialization

Home of the Range: Tysons-based fintech Range has raised $28 million to help it bring artificial intelligence to the forefront of the wealth management industry, reported Washington Business Journal in subscriber content. San Francisco venture capital firm Cathay Innovation led the Series B for 3-year-old Range. Gradient Ventures, Google’s artificial intelligence-focused seed-stage fund, and other unnamed investors also took part. Range has a staff of about 50.

A big deal: Tricentis, a Texas-based developer of software testing tools with its public sector headquarters in Tysons, said that private equity firm GTCR will invest $1.3 billion in the company at a $4.5 billion valuation. GTCR and previous backer Insight Partners, based in New York, will share equal representation on the company’s board. Tricentis was founded in 2007 in Austria, with Insight taking majority ownership in 2017. The company develops AI-based software testing tools for more than 3,000 customers, including McKesson, Allianz, Telstra, Dolby and Vodafone.

Securing future cryptography systems: Falls Church-area based General Dynamics Information Technology has revealed that it is the first systems integrator to join the National Institute of Standards and Technology’s Migration to Post-Quantum Cryptography Building Block Consortium.  The company said the move aligns with efforts to address potential threats posed by quantum computing and to secure future cryptography systems. Ben Gianni, senior vice president and chief technology officer of GDIT, said, “The urgency of securing sensitive digital data has never been greater. The threat of adversaries using quantum computing to decrypt sensitive data, even years after it has been recorded, means we must start the migration to post-quantum cryptography today.” ExecutiveBiz has more.Top of Form

Google Earth for space observation and situational awareness: Tysons-based Veteran Ventures Capital, a venture capital firm investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders, announced a strategic investment in Irvine, California-based Turion Space, reported citybiz. “Turion Space is developing the ‘Google Earth’ for space observation and situational awareness. The capabilities they are building for national security and commercial customers represent the kind of high-impact, dual-use technologies that aligns perfectly with VVC’s mission,” said Derren Burrell, Managing Partner of Veteran Ventures Capital.

Significant step forward: Chantilly-based Parsons Corporation and Louisiana-based Globalstar announced a partnership to support the public, government, and defense sectors. The partnership also includes the successful demonstration of Parsons’ software-defined satellite communications solution using Globalstar’s Low Earth Orbit (LEO) satellite constellation, according to a news release. “This successful demonstration is a significant step forward in how we can use satellite infrastructure to support mission-critical needs across various industries,” said Mike Kushin, president of Defense and Intelligence for Parsons. “By leveraging Globalstar’s advanced satellite technology, we are optimizing the Parsons capability solution to provide communications connectivity, especially in areas where radio frequency congestion poses challenges.”

Polar express: Falls Church-area based Northrop Grumman has completed activation of the Space Systems Command’s two Enhanced Polar System-Recapitalization, or EPS-R, payloads hosted aboard two satellites for Space Norway’s Arctic Satellite Broadband Mission, or ASBM. The company said Tuesday the two GEOStar-3 satellites – ASBM 1 and 2 — launched in August aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California, reported ExecutiveBiz.

Largest acquisition to date: Delta Solutions & Strategies, founded in 2000 and headquartered in Colorado Springs, was acquired Friday by Ukpeaġvik Iñupiat Corporation (UIC), an Alaska Native Corporation, is UIC’s largest acquisition to date, according to a release. Delta joins UIC as part of the Springfield, Va.-based Bowhead Family of Companies within the UIC Government Services federal contracting division, reported The Gazette. Bowhead has 3,000 employees and 300 contracts, with 16 offices across the U.S., the release said.

New round: Israel and Tysons-based D-Fend Solutions, which focuses on in field-proven radio frequency (RF) cyber-based, non-kinetic, non-jamming, counter-drone – takeover technology, announced that it has secured $31 million in the initial closing of a new investment round. The round was led by Israel Growth Partners (IGP), with participation from existing investor Vertex Ventures and new investor Vertex Growth. “The growing size, scope, and complexity of rogue drone threats demands advanced, precise, and reliable solutions. This investment will enable us to continue innovating and expanding our capabilities, ensuring we remain at the forefront of counter-drone technology, while delivering unparalleled control, safety and, uniquely, operational continuity to our global defense, homeland security, law enforcement, airport, and critical infrastructure customers,” said Zohar Halachmi, CEO and Chairman of D-Fend Solutions.  sUAS has more.

Joining The Row: Reston-based Comstock Holding Companies announced the signing of a 4,505 square foot lease with Inova 360° Concierge Medicine (“Inova”) at 1880 Reston Row Plaza, located within The Row at Reston Station. “Inova is excited to join the community at The Row at Reston Station,” said Craig Cheifetz, MD, FACP, Vice President of Corporate Health and Premium Services for Inova. “This will be our sixth location across Northern Virginia, allowing us to bring our personalized approach to health and wellness to patients in the greater Reston community. Being part of a transit-oriented and mixed-use destination like Reston Station will ensure access not only to those who live in Reston Station, but also those who work and play there as well.”

Innovative packing solutions: Tysons-based Spectrohm is among the companies selected by Amazon in its Packaging Visibility Innovation Challenge, which was focused on discovering innovative packaging solutions that boost inventory visibility at high speeds.  Spectrohm employs radio frequency sensors and AI/ML-powered software to create color 3D images of packages’ internal contents at operational speeds, offering a differentiated method to see through packaging.

Taking stock: A group of local executives in Herndon are recently launched a new stock index – called the Virginia Stock Index – that tracks the performance of 80 publicly traded companies headquartered in Virginia, according to Potomac Tech Wire. Currently, the Virginia Stock Index, aimed at providing a market-based view of economic activity in the state, does not have an ETF tied to it, but it could have one in the future. The Virginia Stock Index can be viewed here. (Please wait a few seconds for the index to load).

Hungry yet? Tony’s NY Pizza, a homegrown Fairfax County chain of two Italian restaurants, will soon open a third location, according to Washington Business Journal. The business, founded 30 years ago, is moving into Burke’s Twinbrooke Shopping Centre, owned by Federal Realty Investment Trust, according to building permits and a food establishment application. Tony’s, which serves an award-winning pizza in addition to traditional Italian fare and handmade deserts, will replace local favorite Angie’s Restaurant, which closed in late May. Tony’s, which debuted in 1994 in the Fair Lakes Shopping Center, opened a second location in Oakton in 2020. Lorenzo D’Agostino, Tony’s co-proprietor with his father, Giovanni, an immigrant from Naples, Italy, who founded the business, said he’s aiming for a summer 2025 opening in Burke.

Notable Contracts

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