Ukrainian defence tech startups secured over $105M in investment in 2025, according to Brave1

In 2025, Ukrainian defence tech companies raised more than $105 million from venture and angel investors. Over 50 startups shared this funding. These preliminary annual results were presented by the state defence technology cluster Brave1 at its investment demo day on 4 December.

According to the cluster, in 2025 Ukrainian defence projects most frequently raised rounds in the range of $200,000 to $400,000. The second most common were cheques between $1 million and $1.5 million, while rounds from $2.5 million to $5 million are also becoming more widespread.

Brave1 highlighted the largest public rounds in Ukrainian defence tech in 2025:

1. Swarmer — $15 million
2. Tencore — $3,74 million
3. Dropla — $2,75 million
4. Teletactica — $1,5 million
5. M-fly — $1,3 million
6. Norda Dynamics — $1 million

At the same time, in his presentation, Brave1’s Head of Investment Attraction Artem Moroz noted that a significant share of rounds remained undisclosed. According to him, some of these investments were even larger than Swarmer’s round.

Brave1 also reminded that in 2023 the total volume of investment in Ukrainian defence startups amounted to just $5 million, and in 2024 it exceeded $40 million.

Ukraine in Europe’s defence tech investment ecosystem

Across Europe, 2025 was also a record year for defence tech investment – reaching $1.5 billion. However, nearly three-quarters of this amount came from mega-rounds raised by European defence unicorns – including Helsing, which secured $600 million. Quantum Systems, Tekever and Stark also closed major rounds.

Meanwhile, early-stage investment (Pre-seed, Seed, Series A) across Europe reached around $200 million – only twice the total volume of Ukrainian deals, most of which are also at early stages.

What to expect in 2026

Artem Moroz outlined potential trends for defence investment in 2026. He forecast market consolidation through mergers and acquisitions, as well as an increase in deals structured under Ukrainian jurisdiction. He also noted a realistic chance of seeing a “mature” $50+ million round from a Ukrainian company next year.

Full list of trends:

• Faster integration of established Ukrainian companies with startups through M&A.
• Growing number of Pre-seed and Seed deals under Ukrainian jurisdiction, supported by the Diia.City legal framework.
• Potential for a Series B round exceeding $50 million (linked to simplified export procedures).
• Start of international sales and partnerships for many companies in the ecosystem.
• Funds already active in Ukraine will operate with larger budgets.
• An increasing number of follow-on rounds, as investors return to reinvest in companies they have previously backed.

Previously, Defender Media reported that EU Ambassador to Ukraine Katarína Mathernová and First Deputy Prime Minister Mykhailo Fedorov presented the EU4UA Defence Tech initiative, which provides €5 million in EU funding to support Ukrainian defence innovations. Of this amount, €3.3 million will go to grants for war-gamechanger startups, while the rest will support the development of defence legislation, the creation of an exhibition zone for Ukrainian defence tech, and industry events.