{"id":31905,"date":"2026-06-16T16:24:25","date_gmt":"2026-06-16T13:24:25","guid":{"rendered":"https:\/\/thedefender.media\/?p=31905"},"modified":"2026-06-17T13:14:16","modified_gmt":"2026-06-17T10:14:16","slug":"varangians-10m-fund","status":"publish","type":"post","link":"https:\/\/thedefender.media\/en\/2026\/06\/varangians-10m-fund\/","title":{"rendered":"Swedish investment group Varangians closes \u20ac10m fund to back Ukrainian defence tech"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Swedish investment group <a href=\"https:\/\/thedefender.media\/en\/tags\/varangians\/\">Varangians<\/a> has closed a \u20ac10 million fund, EU-Startups <a href=\"https:\/\/www.eu-startups.com\/2026\/06\/ukraine-focused-defencetech-fund-varangians-closes-e9-1-million-in-stockholm\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">reports<\/a>. Speaking to Defender Media, Varangians co-founder P\u00e4r Lager said the capital will be invested in Ukrainian defence tech companies. The group has already completed four investments and expects to close two more deals by the end of the summer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New investments are planned to be announced during the Iron Demo and Defense Tech Valley events. Later, Varangians intend to make a further 3-5 investments under the fund. P\u00e4r Lager says they are interested in investing in unmanned systems across all domains, drone components, EW of various kinds, mining and demining solutions, and intelligence solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The group&#8217;s team is talking to Ukrainian servicemen and cluster representatives to monitor real needs. The co-founder adds that among the Varangians&#8217; goals is to&nbsp;invest&nbsp;in solutions that can rapidly support Ukraine in the war, as well as to support Europe&#8217;s rearmament <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">through cooperation with Ukrainian companies.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The launch of Varangians was announced by Swedish businessmen P\u00e4r Lager, Andreas Flodstr\u00f6m, and Jonas Rydin in June 2025. This is the first investment company in Sweden investing money exclusively in Ukrainian defence startups. At the same time, the founders consider the main indicator of success not the group&#8217;s financial performance but the impact of investments on Ukraine&#8217;s defence capability.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-align-left wp-element-button\" href=\"https:\/\/thedefender.media\/en\/insights\/interview-ceo-varangians\/\"><strong>Read more<\/strong>: Varangians CEO P\u00e4r Lager on Swedish multi-million euro bet on Ukraine\u2019s defence tech<\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Currently, the Varangians&#8217; portfolio already includes four Ukrainian companies:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/thedefender.media\/en\/2025\/12\/himera-raised-seed-round\/\">Himera<\/a> \u2013 developer of a secure communications system;<\/li>\n\n\n\n<li><a href=\"https:\/\/thedefender.media\/en\/2025\/05\/how-ukrainian-sine-engineering-gained-70-clients-worldwide\/\">Sine Engineering<\/a> \u2013 creates a communications and positioning platform for UAVs in challenging conditions;<\/li>\n\n\n\n<li><a href=\"https:\/\/thedefender.media\/en\/2025\/09\/norda-dynamics-raises-1-mln\/\">NORDA Dynamics<\/a> \u2013 developer of autonomous systems for UAVs;<\/li>\n\n\n\n<li>An unnamed company manufacturing UAVs, UGVs and drone components.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">According to Lager, they are also considering follow-on investments in these developers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team has already invested in four companies and plans to close two more deals by the end of summer<\/p>\n","protected":false},"author":14,"featured_media":31895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":"","_featured_category_order":0,"_article_badge":"featured","footnotes":""},"categories":[31],"tags":[1728,656,699],"class_list":["post-31905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments","tag-investments","tag-sweden","tag-varangians","pmpro-has-access"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Swedish company invests \u20ac10m in Ukrainian defence tech<\/title>\n<meta name=\"description\" content=\"Swedish investment group Varangians has closed a \u20ac10 m fund. The money will be directed into Ukrainian defence tech. More on Defender Media.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedefender.media\/en\/2026\/06\/varangians-10m-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swedish company invests \u20ac10m in Ukrainian defence tech\" \/>\n<meta property=\"og:description\" content=\"Swedish investment group Varangians has closed a \u20ac10 m fund. The money will be directed into Ukrainian defence tech. 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