MITS Defence Accelerator invests $200K each in Ukrainian defence tech startups

The MITS International Defence Startup Accelerator and American University Kyiv have completed the first programme for Ukrainian mil-tech startups. The programme participants received $200K each from MITS. The direct investment in each of the programme participants is $100K. MITS is valuing its expertise provided in partnership with American University Kyiv at another $100K, the accelerator told Forbes.

The MITS supervisory board includes former NATO officials and experts from Lockheed Martin, which produces HIMARS artillery systems. The target fund is $50 million. The Ukrainian team, together with its American partners, announced the launch of MITS in February this year, a 15-week programme.

The programme involved teams developing secure communication systems for drones, AI-based wearable detectors and drone jammers, and visual positioning systems for use in the absence, jamming, or damage of GPS signals.

The programme also includes a team that manufactures engines for drones. After completing the first programme, MITS announces a second round.