Ukrainian defence tech startups raised $129+ million in investments and grants in 2025 — DealBook of Ukraine

Investment firm AVentures Capital has published DealBook of Ukraine 2026, a study reviewing Ukraine’s technology ecosystem over the past year. Defender Media has selected the most notable insights related to the defence tech sector.

According to AVentures Capital, defence tech remains the fastest-growing sector in Ukraine’s entire technology ecosystem. By the end of 2025, the fund recorded more than $129 million in investments and grants raised by Ukrainian defence startups.

Earlier studies assessed funding for defence tech projects more conservatively. In particular, the state defence technology cluster Brave1 estimated total funding raised at $105+ million in its annual review. A similar figure appears in a study by the UCDI Investor Club of the Ukrainian Council of Defence Industry.

AVentures Capital adds that the number of deals in Ukrainian defence tech was 22% lower than in 2024. However, the average ticket size increased fivefold, indicating a maturing market.

According to the fund’s analysts, several companies in the sector have already reached profitability. The study lists Skyeton, Ukrspecsystems, Fire Point, SkyFall, Athlon Avia, Antonov, Airlogix, and TAF Industries. At the same time, a significant share of the sector’s companies remains outside the public spotlight, the authors note.

According to AVentures Capital, 49% of the total capital raised by Ukrainian defence startups in 2025 came from foreign investors, with a further 25% coming from deals involving both international and Ukrainian funds.

Overall, AVentures Capital estimates total investment in Ukrainian technology startups last year at $498 million — an 8% increase compared to 2024.