Lithuanian drone technology startup PDKinematics has raised two million euros in seed funding to scale up its precision targeting systems across NATO member states, the company announced on Friday.
The funding round was co-led by venture capital fund Coinvest Capital and European defence technology investor Iron Wolf Capital.
The capital will be used to expand production and develop the company's precision targeting system in Europe and Ukraine. Gannet, the company's flagship product, is a precision targeting system that enables drones to strike targets accurately from altitudes of up to 700 metres.
PDKinematics says its technology has been tested in Ukraine, where it holds a strategic partnership with Bavovna.ai, one of the country's largest drone manufacturers. The company also collaborates with Italian drone producer SiraLab.
Among its immediate plans is the first deployment of its precision targeting technology within the naval forces of a NATO member state, though the company did not name the country.
The firm supplies precision targeting systems and components to drone manufacturers, defence system integrators and NATO forces.
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