Forbes: Airlogix plans to raise $100m at a $2bn valuation

Ukrainian drone manufacturer Airlogix plans to raise $100m in a new investment round, according to Forbes US, citing two sources.

The company is currently in talks with potential investors. If it closes the round at the expected amount, Airlogix’s valuation will reach $2bn. This makes it the most valuable Ukrainian defence tech company to have raised venture funding.

UForce currently holds this title, becoming the first Ukrainian defence tech company with a confirmed valuation of over $1bn. This became known in spring this year, when the manufacturer raised $50m. Shield Capital and Lakestar led the round, with participation from Ballistic Ventures.

However, many investors are wary of investing in a company whose facilities are concentrated in Ukraine. Airlogix founder Vitalii Kolesnichenko said this at the Resilience defence conference.

For this reason, the manufacturer is gradually opening plants in other countries. Together with Auterion, it has launched a facility in Germany, plans to assemble drones in Finland with local company Innokas, and has also announced joint production of UAVs with Canadian company Sentinel R&D.

The company is also exploring cooperation opportunities in Denmark, the Netherlands, and the US, although Canada and the United Kingdom remain its priority markets.

The company declined to comment to Forbes on the upcoming round.

The joint venture between Auterion and Airlogix has already produced its first UAVs under a contract from the German government, valued at $348m. It is focused on the Anubis and Seth-X strike drones, which use Auterion’s AI-powered software. The products will initially supply the Armed Forces of Ukraine.