Sir Tony Blair’s son is seeking to tap into the European rearmament boom with a new defence technology start-up.
Nicky Blair, who previously worked as a teacher and a football agent, quietly incorporated Pyra Group in November and is preparing to launch the company this summer.
His company is developing tools that will “allow users to integrate different systems into a single source”, according to the Financial Times.
The move comes as European countries are ramping up military spending to deter the growing threat from Russia.
Along with other Nato members, Britain has pledged to increase core defence expenditure to 3.5pc of GDP by 2035.
A spokesman for Pyra added it was “founded to serve the security interests of the UK and its allies”.
They said: “In a defining period for global defence, Britain must transform its sovereign industrial base and digital capability.
“We are building Pyra with the scale and commitment that task demands.”
No further details have yet been published. The company’s website tells visitors to “stand by”. However, Mr Blair is said to be seeking significant investment – as much as $200m (£148m).
He is the second child of Sir Tony, the former prime minister, and Cherie Blair KC, the human rights barrister. The pair regularly rub shoulders with world leaders, billionaires and chief executives.
Mr Blair is also the co-founder of another defence-tech startup, Skyral, which was recently part of a consortium that won a £2bn contract from the Ministry of Defence to provide simulation and training services. The company raised £15m from investors last year.
Before venturing into defence, Mr Blair was a football agent specialising in South America. His mother was a co-director of his company, Magnitude, and previously invested in an unsuccessful video games venture he founded.
Pyra is the latest venture launched by a member of the Blair family, in what some observers over the years have jokingly called the “Blair rich project”.
Mr Blair’s older brother, Euan Blair, is also an entrepreneur and runs apprenticeship company Multiverse, valued at $2.1bn. Kathryn Blair, the couple’s only daughter, is a barrister.
Meanwhile, after stepping down as prime minister in 2007, Sir Tony also ran advisory firm Tony Blair Associates until 2016.
He now leads the Tony Blair Institute for Global Change, a non-profit think tank that seeks to influence government policy.
Mr Blair’s new startup has emerged after another British firm, Cambridge Aerospace, was confirmed to have raised $300m from investors at a valuation of $3.4bn.
The company makes a cheap anti-drone interceptor known officially as Skyhammer, which is being rushed into service by the Ministry of Defence.
It has been backed by investors including DFJ Growth, a San Francisco-based firm that previously supported Elon Musk’s SpaceX and Tesla.