“Our most mature systems are in the maritime domain and our interceptor drones – this is where we expect the most interest,” founder and chief executive Sam Vye says.
Vye – an English ex-pat who lives at the Mount – recently said that over the next year or so he will triple his firm’s local workforce, which focuses on research and product development, completing a production plant at Fareham in the UK.
The transtasman push doesn’t affect those plans, he says.
“Our intention with establishing in Australia is to work closely with the Australian government customers to develop equipment that meets their specific requirements, as we are already doing with the New Zealand and UK defence forces,” Vye told Tech Insider.
“Establishing relationships with the Australian defence forces to co-create products and making sales in Australia will help to grow our research and development and production facilities in both countries.
“Setting up our Australian business is a case of ‘and, and’ for the growth of our business and employment in Mt Maunganui not ‘and or‘.”
Indeed, Syos has just added to its local operation by acquiring Bay Dynamics, whose dozen staff make remotely-operated vehicles for undersea work in energy, power and other sectors.
And while the first funding recipients won’t be named until at least mid-2026, Syos was also one of the featured companies as Defence Minister Judith Collins announced a new Technology Accelerator programme for the NZDF, with an indicative investment of $100m to $300m.
Syos, founded in 2021, first drew mainstream attention in April this year when Prime Minister Christopher Luxon’s United Kingdom visit was used to announce Syos’ £30 million ($66m) drone deal with the UK Ministry of Defence, which is in turn aiding Ukraine in its fight against Russia – with strong hints that more contracts will follow. Tech Insider understands the Royal Navy is a customer to watch.
ParkHelp buys US firm
New Zealand parking management firm ParkHelp has bought German firm Cleverciti – a specialist in “AI-powered parking guidance and enforcement technologies”.
ParkHelp chief executive Poojitha Preena declined to comment on the value of the deal between the two privately-held firms, but told Tech Insider that Cleverciti is “cashflow positive with revenue that will be approaching $10 million this year, with just under half recurring”.
Cleverciti’s systems are built on Nvidia’s Jetson machine learning platform, Preena said.
ParkHelp’s major investor is New Zealand’s largest venture capital fund, Movac, which holds a 72% stake, followed by JML Capital, the family office of former Morrison & Co chief investment officer and founding partner Lib Petanga (17%).
“We have also received investment from several individuals who have come to New Zealand via the AIP [Active Investor Plus or ‘Golden Visa’ programme,” Preena said.
According to LinkedIn Insights, ParkHelp has 31 staff and Cleverciti 16. The Munich-based Cleverciti says it has an unnamed number of clients across Europe, the US and the Middle East.
ParkHelp (formerly Parking Sense) hit the spotlight in 2021 when details emerged of a falling out between its US and global CEO, wannabe National MP Jake Bezzant, who was with the company between 2014 and 2019 and founders Paul and Jo Collins.
Movac operating partner Ed Robinson was installed as chief executive on Bezzant’s departure. Preena took the reins in mid-2023.
Bezzant also quit Invisible Urban, a maker of “smart chargers as a service” for carparks, founded in NZ but based in the US, but rejoined the startup after the controversy died down.
In April, Bezzant was sued for alleged fraud after Georgia man John Stapleton lost US$50,000 after money intended for Invisible Urban shares allegedly went into accounts controlled by broker Gary Saitowitz, who was also sued.
Stapleton’s attorney, Eric Lang, told the Herald he had no reason to question the health of Invisible Urban’s business, which seemed robust (in April 2024, it got a positive write-up from Bloomberg). Lang’s key target was Saitowitz, Tech Insider understands.
Chris Keall is an Auckland-based member of the Herald’s business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.
