OPPND invested in defence startups PanoptesAI and Sierra Turbines

The US-Ukrainian OPPND (formerly Oppenheimer Acceleration Fund, which is based in California and invests in defence startups, has launched an acceleration programme with the participation of the first two projects. Forbes reports they will each receive $125,000 in investment: $25,000 in preparation for the acceleration programme and $100,000 during it.

The first participant is the Ukrainian startup PanoptesAI. The team is developing an AI system that integrates fixed, mobile, and airborne optoelectronic stations, along with electronic intelligence modules, into a mesh network. The system also provides continuous monitoring and access to real-time airspace data.

The second is the American start-up Sierra Turbines, which manufactures turbojet engines using technologies that can be used in the construction of missiles and long-range drones. ‘They already have the first trial integrations in the US and are looking for investment to set up large-scale production,’ says co-founder Alexander Soroka.

OPPND Fund was announced earlier this year. The fund was founded by Network.VC, which has been making venture capital investments in Silicon Valley for over 10 years. The managing partner of Network.VC and OPPND are Oleksandr Soroka, a well-known manager and investor in the Ukrainian investment ecosystem. His company Network.VC has previously invested in Ukrainian defence startups, including Bavovna.AI and Swarmer.

OPPND will focus on investments in early and seed-stage defence startups. The founders plan to invest $2 million in the fund’s first round. In addition to money, OPPND promises to help with access to experts and specialised testing laboratories, government support and grant programmes, as well as a network of partners and customers.