NATO’s VC fund backs biotech startup for first time

The NATO Innovation Fund (NIF) has made its first investment in a biotechnology startup. The alliance’s VC arm announced today that it’s co-leading a $35mn Series A round for UK-based Portal Biotech as it seeks to strengthen NATO’s defences against biological warfare. Portal develops portable, AI-powered diagnostic devices capable of detecting pathogens at the single-molecule level. Unlike traditional lab-based systems, its platform is designed for field deployment. It aims to offer rapid, on-site identification of biological threats.  Ana Bernardo-Gancedo, senior associate at NATO Innovation Fund, told Reuters that this capability is crucial for defence and security. “We believe it is…