As Ukraine continues to defend itself against Russia’s invasion, European startups are developing technologies ranging from autonomous drones and air-defence systems to satellite intelligence, with venture capital playing an increasingly important role in supporting defence innovation.
EU-Startups’ reporting on European DefenceTech and adjacent dual-use technologies has identified more than €1.8 billion in financing across 22 European startups in 2026, as of October.
Drawing on EU-Startups’ coverage, we’ve put together a list of European startups that secured funding in 2026 and are contributing to Ukraine’s defence efforts, alongside the investors backing them. Together, this list represents over €1 billion of funds raised for direct intervention in Ukraine.
And stay tuned: we have an upcoming EU-Startups Podcast episode featuring one of the startups on this list!
The Defenders
DOD Solution – Estonia/Ukraine: Founded in 2023, DOD Solution is an Estonian-Ukrainian DefenceTech startup developing AI-powered autonomy for unmanned systems. Its AURA AI platform combines onboard computing and software to provide autonomous navigation, target recognition and tracking, even when GPS signals or communications are unavailable. Unlike technologies still awaiting frontline validation, AURA AI has already been used in combat in Ukraine.
In September 2026, the company raised €1.8 million in pre-Seed funding from Angel One Fund, Better Angle, Defence Builder Fund, Network VC, Newfund, UAID Fund, WildField Ventures and 4C-Next Holding AG, alongside strategic investor Draganfly. The financing will support product development and further integrations with Ukrainian drone manufacturers.
Frankenburg Technologies – Estonia: Founded in 2024 and headquartered in Tallinn, Frankenburg Technologies develops affordable, mass-manufacturable missile defence systems intended to counter drones and other aerial threats. Co-founded by Taavi Madiberk and Marko Virkebau, the startup is developing its Mark I short-range interceptor missile, with an emphasis on reducing production costs and increasing manufacturing capacity. Its operations extend across eight countries, including Ukraine, reflecting its ambition to manufacture defensive systems closer to where they are needed.
In February 2026, Frankenburg secured €30 million in Series A funding led by Plural, with participation from SmartCap, bringing its reported total funding to €40 million.
ICEYE – Finland: Founded in 2014 and headquartered in Espoo, ICEYE develops and operates synthetic aperture radar (SAR) satellites capable of capturing high-resolution imagery regardless of weather conditions or daylight. Its technology supports defence intelligence and battlefield monitoring, including for Ukraine’s armed forces, which benefit from satellite imagery to improve situational awareness.
In January 2026, ICEYE expanded its cooperation with Ukraine’s Ministry of Defence to provide additional space-based intelligence. In June, the company announced a €450 million primary Series F investment led by General Atlantic, with investors including Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, QIA and TCV. The Scaleup Europe Fund, managed by EQT, was subsequently identified as a co-lead. Including secondary transactions, the financing exceeded €1 billion.
Occam Industries – United Kingdom: Founded in 2025 and based in London, Occam Industries develops autonomous drone technology designed to reduce reliance on human pilots in battlefield conditions. Its OccamX platform uses computer vision to enable FPV drones to navigate and track targets without continuous manual control or GPS connectivity. Occam has also completed initial testing through Ukraine’s Brave1 defence innovation cluster, opening the door to integration trials with Ukrainian drone manufacturers and potential deployment with the country’s armed forces.
In February 2026, the startup raised €3 million in pre-Seed funding led by Presto Tech Horizons, with participation from Antler, Freedom Fund, TYR.vc and defence-sector angel investors.
PDKINEMATICS – Lithuania: Founded in 2025 and headquartered in Vilnius, PDKINEMATICS develops precision-guidance systems for unmanned aerial vehicles, helping drones operate more accurately in environments affected by electronic warfare. Its flagship Gannet technology enables UAVs to release munitions from higher altitudes without sacrificing accuracy. The startup has partnered with Ukrainian drone manufacturer Bavovna.ai, integrating its systems into platforms already deployed in battlefield conditions.
In June 2026, PDKINEMATICS secured €2 million in Seed funding co-led by Coinvest Capital and Iron Wolf Capital, bringing its total funding to €3 million. The investment will support increased manufacturing capacity and further deployments across Ukraine and European defence markets.
Quantum Systems – Germany: Founded in 2015 and based near Munich, Quantum Systems develops AI-powered unmanned aerial systems and software for military reconnaissance and autonomous operations. The company has an established presence in Ukraine, where its drones reportedly completed more than 19,000 missions during 2025.
In July 2026, it announced a €1 billion Series D round co-led by Blackstone, Noteus, Airbus and Advent, with backing from BOND, Fidelity, Wellington Management, A.P. Moller Holding, Elephant Lake Ventures, Balderton and HV Capital. Its Ukrainian operations are also expanding: in October 2026, EU-Startups reported plans for tens of thousands of Germany-funded interceptor drones to be manufactured in Ukraine.
Shotling – Denmark: Danish DefenceTech startup Shotling develops short-range counter-drone systems designed to protect military personnel, vehicles and infrastructure against FPV drones and loitering munitions. Its electrically driven rotary shotgun system uses a high-capacity magazine and is designed for integration into mobile or stationary defence platforms. The technology addresses a challenge encountered by Ukrainian forces: intercepting inexpensive attack drones without relying on disproportionately costly defensive systems.
In February 2026, Shotling announced €700k in pre-Seed financing led by Myriad Defense Fund, with participation from IPO CLUB’s Fund II America 2030 and a non-dilutive match-loan from EIFO. The startup has reportedly received support from Ukrainian frontline units and defence companies, although operational deployment details have not been disclosed.
Special Mention
Varangians – Sweden: Beyond the startups developing defence technologies, Stockholm-based Varangians represents a more direct route for European venture capital into Ukraine’s DefenceTech ecosystem. Co-founded by Pär Lager, Andreas Flodström and Jonas Rydin alongside a Swedish family office, the investment fund announced a close of more than €10 million in June 2026, specifically to support Ukrainian defence innovation.
Its portfolio includes Norda Dynamics, which develops autonomous drone piloting technology for communications-denied environments; Himera, specialising in electronic-warfare-resistant secure communications; and Sine Engineering, which builds UAV communication and positioning systems capable of operating under jamming and interference.
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