LONDON, June 18 (Reuters) – A consortium of NATO allies has confirmed the first tranche of companies awarded funding as part of the group’s one billion euro ($1.1 billion) innovation fund.

The alliance unveiled the fund in the summer of 2022, months after the Russian invasion of Ukraine, promising to invest in technologies that would enhance its defences. The fund is backed by 24 of NATO’s 32 member states, including Finland and Sweden, which joined the alliance earlier this year.