TOP 10 Defence Tech startups that have attracted the most investments

Ukraine’s defence industry will grow to $6.6 bln in 2025, according to a study by Data Driven. Analysts attribute this to domestic demand and government initiatives to strengthen the defence industry. By the end of 2024, the defence sector is expected to grow to $5 bln, up from $3 bln in 2023 and $1.3 bln in 2022.

AIN has gathered the top 10 Defence Tech startups that have attracted the most investment since the start of the full-scale invasion.

Esper Bionics

Esper Bionics develops next-generation bionic hand prostheses and a cloud-based platform as a service that teaches prostheses the user’s usual movements, improving control.

Received investments:

• $5 mln from YZR Capital, EBRD and u.ventures in 2024;
• $150K from the US Agency for International Development in 2024.

Osavul

The company is engaged in media analytics and threat detection in the media environment using AI.

Received investments:

• $3 mln from 42CAP, SMRK and u.ventures in 2024;
• $1 mln from SMRK in 2023.

Swarmer

Startup is working on AI technology to combine drones into a swarm.

Received investments:

• $2.7 mln from Radius Capital, Green Flag Ventures and D3 in 2024;
• $125K from Angel One Fund and D3 Venture Capital in 2024;
• $50K from Brave1 in 2024.

Buntar Aerospace

The team developed an electronic warfare invisible reconnaissance drone with a smart control system.

Received investments:

• $125K from D3 Venture Capital in 2024;
• $200K from the Nezlamni fund in 2024;
• $2 mln from anonymous investors in 2023.

Bavovna.ai

Bavovna.ai team created a working satellite-free navigation system for military drones that will work in any weather.

Received investments:

• $1 mln from angels mainly from the US intelligence community, as well as Network VC, Allied VC Partners in 2022-2023;
• $300K from angels in 2023.

Himera

Startups develops resistance to Russian electronic warfare radios.

Received investments:

• $550K from angel investors (including United Angels Network) in 2024;
• Nezlamni Fund in 2024 (the amount of the investment is not disclosed, but it falls within the standard fund’s cheque – from $100K to $400K);
• $100K from Freedom Fund in 2023;
• $10K from Startup Competition IT Arena in 2023.

Farsight Vision

Farsight Vision developed a platform that integrates and analyses drone footage. The military can use it for reconnaissance and situational awareness.

Received investments:

• €600K from Darkstar Camp in 2024.

Mantis Analytics

The project monitors the information field in real time and helps organisations identify risks.

Received investments:

• $240K from the Nezlamni fund in 2024;
• €50K from Seeds of Bravery in 2024;
• $100K from ZAS Ventures in 2024;
• $60K from Alchemist Accelerator in 2024;
• $25K from Brave1 in 2023.

Frontline

The company develops and manufactures robotic systems with remote control.

Received investments:

• $125K from D3 Venture Capital in 2024;
• $150K from Brave1 in 2024;
• $195K from business angels in 2023-2024.

Ailand Systems

This startup develops drones for demining.

Received investments:

• $200K from the Nezlamni fund in 2024;
• $25K from Brave1 in 2024;
• $100K from Google for Startups in 2024;
• $125K from D3 in 2023;
• $5K from Brave1 in 2023.

Byne

The startup develops solutions for creating a secure infrastructure for deploying AI-powered large language models (LLMs).

It has received investments:

• $325K from an anonymous UK fund in 2024.

Zvook

The team is developing a hardware and software system that acoustically detects cruise missiles, helicopters, drones and enemy fighters at low and medium altitudes.

Received investments:

• $125K from D3 Venture Capital in 2024.
• $8K from Startup Competition IT Arena in 2023.