Swarmer co-founder Serhii Kupriienko steps down as CEO, Alex Fink takes over

Several sources told Defender Media that Serhii Kupriienko, co-founder of Ukrainian-American company Swarmer, no longer serves as its CEO. Swarmer’s official spokesperson confirmed the information in response to a request from the editorial team.

“Serhii’s decision to leave was a personal choice,” Swarmer said. Defender Media reached out to Kupriienko for comment but had not received a response by the time of publication.

Kupriienko left the CEO position at the end of July, but remains a member of Swarmer’s Board of Directors, the company clarified. Following his departure, the company was headed by Alex Fink, another co-founder of the project. The American had previously led Swarmer’s business in the US.

In April 2026, Kupriienko said that Fink was responsible at the company for marketing, sales and work with international markets, while Kupriienko himself oversaw the company as a whole and was responsible for its technology stack.

Swarmer says the company remains fully operational and focused on executing its current business strategy — “to deliver mission-critical autonomous technologies in support of Ukraine’s defense, our international customers, partners and shareholders.”

Swarmer develops AI-powered software that enables drone swarms to be controlled. The project became the first Ukrainian defence company to list on the NASDAQ stock exchange. Its IPO took place on March 17, 2026, and the company raised $15 million. In the first days of trading, its share price surged by hundreds of per cent. According to Bloomberg, it was the best debut on the US stock market in almost a year.

Since its IPO, Swarmer has published two quarterly financial reports. In the first quarter, the company reported revenue of $20,300, while its net loss reached $4.5 million. In the second quarter, Swarmer’s revenue amounted to $216,000, while its net loss increased to $7.3 million.

At the same time, the company announced a major contract with Ukrainian drone manufacturer Meta Bureau for more than 16,000 UAV software licences. The deal is worth $2.86 million, but includes an option for Meta Bureau to upgrade certain licences for an additional $10.4 million.