Onodrim Industries, a European defence technology startup based in Amsterdam and led by a Lithuanian executive, has raised 40 million euros in new funding, the company said.
The funds will be used to expand product development and manufacturing capacity and to hire additional specialists.
The financing round was led by US venture capital firms Founders Fund and General Catalyst, as well as European venture capital firm Lakestar.
One of the startup’s co-founders and its chief executive, Aistis Šimaitis, said the company’s goal is to help ensure peace in Europe.
“Russia’s war in Ukraine has revealed that the nature of warfare can change very quickly,” Šimaitis said in a statement.
“It is clear that countries seeking to strengthen their deterrence capabilities must adapt and act according to the conditions dictated by the new geopolitical reality. This means consistently reinforcing the foundations of Europe’s defence, developing and expanding defence technologies, digital solutions and a strong defence industry so that Europe can effectively defend itself and remain influential.”
Onodrim Industries said it is developing next-generation hardware and software and building manufacturing capacity needed to ensure Europe’s long-term security and resilience.
The company said it focuses on critical systems in the defence industry, advanced sensors and networked platforms aimed at strengthening deterrence, increasing readiness and ensuring seamless interoperability among European and allied forces.
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