Dream announced that it has raised $260 million in funding to expand its sovereign AI and cyber defense platforms for governments and critical infrastructure. The round was co-led by Bicycle Capital and Group 11, with participation from Antler, Bain Capital Ventures, Tru Arrow Partners, and other global investors. The financing values Dream at $3 billion, three years after the company’s founding.
Dream said the new capital will accelerate deployment of its sovereign AI and national cyber defense platforms across Europe, the Middle East, Asia, and the Americas.
The company has secured nearly $300 million in total contract value since beginning commercial operations in late 2024. With the latest financing, Dream has raised $412 million.
Dream is focused on helping governments build and operate AI systems under their own authority, rather than depending on foreign-owned models, infrastructure, or technology platforms.
The company said artificial intelligence is becoming a new layer of critical national infrastructure as governments increasingly rely on AI for national security, economic competitiveness, public services, and the protection of critical infrastructure.
Dream has built three platforms for governments and critical infrastructure organizations: Sphere, Hero, and Atlas. Sphere is a national cyber defense platform that combines cyber intelligence, exposure management, attack path analysis, digital twin technology, and AI-powered detection and response.
Hero is an autonomous AI security researcher designed to discover vulnerabilities, identify attack paths, and reason like an adversary at machine speed.
Atlas is Dream’s sovereign AI platform. It enables governments to connect fragmented national data, transform information into structured knowledge, deploy mission-specific AI agents and models, and generate actionable insights within secure government-controlled environments.
Founded in 2023 by Shalev Hulio, former Austrian Chancellor Sebastian Kurz, and Gil Dolev, Dream serves governments and critical infrastructure organizations across Europe, the Middle East, and Southeast Asia. The company has approximately 350 employees across Tel Aviv, Abu Dhabi, and Vienna.
KEY QUOTES:
“Land created empires. Industry created nations. Artificial intelligence will create the next super nations. Every nation has data. Few can protect it. Fewer can use it. Sovereign AI is the key. We built Dream to help governments secure their information, transform it into knowledge, and convert that knowledge into national capability. The future of a nation should never depend on technology it does not control.”
Shalev Hulio, Co-Founder and CEO of Dream
“The defining question for governments is no longer whether they will use AI, but whether they will own it. Nations that want to control their future need the ability to operate advanced AI under their own authority, on infrastructure they govern, and in alignment with their own interests. Sovereign AI is becoming a foundational layer of national resilience, competitiveness, and security. Countries that build and control their own AI capabilities will be better positioned to protect critical infrastructure, strengthen public services, improve decision-making, and safeguard their national interests.”
Sebastian Kurz, President and Co-Founder of Dream
“Governments around the world are increasingly seeking secure and sovereign ways to deploy artificial intelligence. Dream has built a unique platform at the intersection of AI, cybersecurity, and government technology. The company is defining one of the most important technology categories of the coming decade.”
Shu Nyatta, Co-Founder and Managing Partner of Bicycle Capital
“We backed Dream at the seed stage and have led or co-led nearly every financing round since. That is conviction, not coincidence. Dream is building critical infrastructure for the AI era, and we believe it is uniquely positioned to define this category globally.”
Dovi Frances, Founding Partner of Group 11
