Vault Cloud Secures $22.5M with NRFC Support

The National Reconstruction Fund Corporation (NRFC) has announced a $22.5 million investment in Australian cloud computing provider Vault Cloud.

The investment is part of Vault Cloud’s Series B funding round, with additional capital coming from Australian private investors for an undisclosed amount.

The news follows NRFC’s $25 million contribution to Adelaide nanosatellite startup Myriota’s $50 million capital raise, announced Thursday.

Founded in 2012, Vault Cloud provides secure, sovereign, hyperscale cloud infrastructure to the government, defense, and critical infrastructure industries.

Its capabilities include hosting data classified by the Australian Signals Directorate as PROTECTED, SECRET and TOP SECRET. This investment will accelerate Vault’s development of new services, such as AUKUS cloud capacity and AI-enhanced security features, and expand its existing SECRET Cloud platform.

“Ensuring the security of classified information is an important consideration for Australian governments in today’s contested world,” said NRFC President Martijn Wilder.

“Vault services store classified government and defense data locally in Australia and protect it with industry-leading security technologies and protocols.

“As the first investment in the NRFC’s defense capabilities priority area, Vault is a great example of how the NRFC can invest to protect Australia’s national interests.

Vault CEO Rupert Taylor-Price highlighted the importance of the partnership in strengthening Australia’s sovereign cloud capabilities.

“Vault is proud to provide the secure infrastructure that supports the nation’s defense and industrial objectives. With the support of the NRFC, we stand ready to increase our capabilities and help meet Australia’s strategic national security requirements, while at the same time contributing to the country’s economic growth,” Taylor-Price said.

This announcement follows a series of year-end investments made by the NRFC, including $13 million for quantum computing start-up Quantum Brilliance and $40 million for Queensland mining services company Russell Mineral Equipment.

The fund’s last-minute efforts indicate the federal government is trying to finalize key investments ahead of the budget and election cycle in early 2025.

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