Landmark investment marks the first deployment from BDC’s new $300M StrongNorth Fund
Landing Zones Canada Inc. receives catalytic investment from the Business Development Bank of Canada’s (BDC) newly launched StrongNorth Fund. The investment marks a pivotal milestone for the pan-Canadian company and Canada’s defence technology sector.
The StrongNorth Fund is BDC’s dedicated $300-million venture capital vehicle designed to back early-stage Canadian startups developing deep technologies with defence-focused or dual-use applications. The fund, led by Managing Partner Peter Suma — who brings more than 25 years of experience in deep tech investing across artificial intelligence, robotics, semiconductors, and advanced systems — is part of BDC’s broader Defence Platform, which was expanded to up to $6 billion in March 2026.
Priority investment areas include aerospace, autonomous systems, sensors, space, specialized manufacturing, training and simulation, and advanced aerial technologies.
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“We are incredibly proud to be the first investment from BDC’s StrongNorth Fund,” said Spencer Fraser, Founder and CEO of Landing Zones Canada. “This important recognition validates both our near-space technology and our vision for reusable dual-use stratospheric platforms. The investment provides the resources we need to accelerate development and deliver these technologies at scale across our two Canadian operations. Building on our growing commercial success and international market interest, we commend BDC for its leadership in catalyzing private investment in Canada’s defence sector, and Landing Zones is committed to leading the charge.”
Landing Zones Canada is best known worldwide for pushing the boundaries of uncrewed aerial systems at stratospheric heights, including the Gitpo drone — Canada’s first reusable alternative to single-use weather sondes — which operates in near-space in the stratosphere while significantly reducing one of Canada’s largest sources of electronic waste from meteorological monitoring. The company has established landmark partnerships with many of the world’s leading aerospace and defence companies to advance UAS navigation, flight endurance, and AI-optimized autonomous operations.
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The BDC investment will accelerate the company’s research and development programs, scaling and manufacturing capabilities, and commercialization of its next-generation stratospheric technologies. While Landing Zones Canada has not yet finalized its expansion plans and continues to evaluate opportunities at both its Alberta and Ontario facilities, it remains firmly committed to investing and growing in Canada.
“Landing Zones Canada represents exactly the kind of defence deep‑tech capability Canada needs to build at home,” said Peter Suma, Managing Partner of BDC’s StrongNorth Fund. “Their work in near‑space and stratospheric platforms sits at the intersection of innovation, resilience, and economic sovereignty. This first investment reflects our conviction that Canadian founders can lead globally in defence‑relevant technologies when they have patient, mission‑aligned capital behind them.”
BDC’s StrongNorth Fund reflects a significant and growing national commitment to strengthening Canada’s domestic defence industrial base. With global security dynamics creating unprecedented demand for sovereign defence capabilities, the Fund supports companies like Landing Zones Canada that are developing the technologies of tomorrow. This investment underscores the important role that Canadian innovators are playing in advancing national defence, aerospace sovereignty, and strategic resilience.
