American Ondas Capital announced plans to invest up to $11 million in Ukraine’s Drone Fight Group

American company Ondas Holdings Inc. has announced its intention to invest up to $11 million in Ukraine’s Drone Fight Group (DFG). Defender Media was told this by the management of the US company.

Drone Fight Club is a group of companies that includes drone manufacturing projects (Bat Drones), simulators (Simtech Solutions), as well as training and R&D activities on the front line. The group provides a full development cycle for unmanned aerial systems. The founder and CEO of DFG is Ukrainian entrepreneur Vladyslav Plaksin.

Eric Brock, founder and CEO of Ondas Holdings, told Defender Media that he is excited about the idea of investing in DFG and partnering with the company. “The team has extremely valuable experience, and we share their mission,” Brock said. “We intend to invest in Ukraine and, even more importantly, to invest to help open global markets, including the US and the EU, for their technology platforms and services.”

According to Brock, investments in the Ukrainian company will be directed towards localising DFG’s capabilities and building supply chains. The CEO of Ondas Holdings declined to provide further comments. The company also did not specify when the DFG deal is expected to close or what its final amount will be.

At the same time, the US holding company reports that the investment will be made through the Ondas Capital strategic investment platform and will become the company’s first capital investment in support of Ukrainian defence tech proven in combat conditions.

The investment aims to support DFG’s global expansion and to facilitate the broader adoption of Ukrainian unmanned technologies in the US and allied countries, Ondas said. The holding company will also provide strategic support to DFG to participate in multi-year procurement programmes in the US and international markets.

Ondas Holdings Inc. is an American technology corporation that develops solutions for industrial wireless networks and autonomous drones, and also manufactures its own unmanned aerial vehicles. The company’s shares are traded on the NASDAQ stock exchange in New York. The company’s market capitalisation exceeds $5 billion.