Swarmer files for IPO

Ukrainian defence tech company Swarmer, which develops AI-based drone swarm automation solutions, has filed for an IPO under the ticker SWMR.

AIN reports this with reference to the company’s registration documents for an initial public offering of its ordinary shares on the NASDAQ exchange, submitted to the US Securities and Exchange Commission (SEC). AIN spotted the information on the EDGAR portal.

According to AIN, the sole banking partner for Swarmer’s IPO is the US-based Lucid Capital Markets. The timing, number of ordinary shares to be offered and the price range have not yet been determined.

Sources cited by the outlet also say that the public listing will not affect the company’s operations in Ukraine and does not mean the transfer of technologies outside the country.

Swarmer develops AI-based software that enables operators to control a swarm of up to 25 drones. The company’s product allows a group of unmanned systems to operate together, with the operator responsible only for target selection and authorisation of engagement.

In September 2025, the company announced it had raised $15 million in a Series A round. The investment became the largest external funding round secured by a Ukrainian defence startup. The round was led by US-based Broadband Capital Investments, with participation from R-G.AI, D3 Ventures, Green Flag Ventures, UA1 VC, Radius Capital and Network VC.