Sine Engineering raises investment from US–Ukraine Reconstruction Investment Fund

The US–Ukraine Reconstruction Investment Fund has invested in Lviv-based defence tech company Sine Engineering, which develops communications modules and other high-tech solutions for drones, the Kyiv Independent reported, citing sources.

The terms of the deal remain undisclosed. An official announcement is expected by the end of the week — the investment will be the first of three planned by the fund this year.

The US–Ukraine Reconstruction Investment Fund was established in the spring of 2025 following bilateral talks on rare earth minerals. Under the agreement, the fund is financed equally by the Ukrainian government and the U.S. Development Finance Corporation (DFC). For the first ten years, all profits will be reinvested in Ukraine’s economy.

In September 2025, Kyiv and Washington each contributed $75m in initial capital. Earlier this year, the fund launched an application portal, which has received more than 130 pitches, according to the Kyiv Independent. For its first investment, the fund selected Lviv-based dual-use startup Sine Engineering.

The company was founded in 2022 by entrepreneur Andrii Chulyk, CEO of Sine Engineering. Other co-owners, according to YouControl, include Bohdan Tymkiv and Ostap Ferensovych. In a previous interview with Defender Media, Chief Strategy Officer Andrii Zvirko also described himself as a co-founder.

Sine Engineering develops hardware and software solutions that enable drones to operate without satellite signals in environments affected by enemy electronic warfare. The company has also developed swarm-control technology that enables a single operator to manage multiple drones simultaneously. In December 2025, the project was among the winners of the NATO Innovation Range competition in Finland.

Sine Engineering розробляє апаратні та програмні рішення, які дозволяють безпілотникам працювати без супутникового сигналу в умовах дії ворожих засобів РЕБ. Також компанія розробила технологію масового управління дронами, що дає змогу одному оператору одночасно керувати кількома апаратами. В грудні 2025 року проєкт став одним із переможців конкурсу NATO Innovation Range у Фінляндії.

Sine Engineering employs more than 450 people and works with over 150 Ukrainian and international drone manufacturers. Because its technologies are dual-use, the company can sell its products in global markets.