{"id":7044,"date":"2025-07-10T12:07:55","date_gmt":"2025-07-10T09:07:55","guid":{"rendered":"http:\/\/stage.thedefender.media\/?post_type=insights&#038;p=7044"},"modified":"2025-11-18T20:44:22","modified_gmt":"2025-11-18T18:44:22","slug":"trypillian-ceo-interview","status":"publish","type":"insights","link":"https:\/\/stage.thedefender.media\/en\/insights\/trypillian-ceo-interview\/","title":{"rendered":"How Trypillian will spend $5M and what its first three products will be: a conversation with CEO Ivan Matveichenko"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The British-Ukrainian company Trypillian has quickly become a notable player in Ukraine\u2019s defence tech sector. In late May, the previously unknown project announced it had <a href=\"http:\/\/stage.thedefender.media\/en\/2025\/05\/trypillian-raises-5m-for-deep-strike-solutions\/\">raised $5 million<\/a> in investment from former UK minister Brooks Newmark. It later emerged that Newmark is one of Trypillian\u2019s three co-founders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Defender Media spoke with Newmark\u2019s partner, war veteran and Trypillian CEO Ivan Matveichenko. He explained that Trypillian is not a classic startup. It will work on in-house R&amp;D, but its core function is to manage a portfolio of technologies from partners and portfolio companies. Most of Newmark\u2019s investment will go toward M&amp;A deals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Matveichenko, Trypillian has already completed two acquisitions, and the acquired teams are set to release an FPV drone and a bomber by the end of summer. The company is also finalising a long-range kamikaze drone, designed to be the most cost-effective deep-strike UAV in Ukraine. Below is Ivan Matveichenko\u2019s full story.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong><strong>From business to the front line<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Just before the full-scale invasion, I was launching a property development company in Kyiv. We were scheduled to start in Q1 2022, but the war derailed everything. I took my wife to her parents in western Ukraine and joined the Armed Forces.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Later, I joined the 10th Mountain Assault Brigade and fought near Bakhmut \u2013 Klishchiivka, Kodema, Blahodatne, Sil\u2019, Rozdolivka, Yakovlivka. I suffered three concussions \u2013 two mild ones, after which I returned to duty, and a third, more serious one that landed me in the hospital.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong><strong>How Trypillian was born<\/strong><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">While recovering in the hospital, I connected with Brooks Newmark on LinkedIn. We first talked about his humanitarian work, and eventually moved on to potential joint ventures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our first idea was to set up a traditional VC fund focused on promising Ukrainian defence tech startups. We met many talented engineers with great ideas but little business experience. We reviewed over 20\u201325 teams from Kyiv, Kharkiv, Dnipro and western Ukraine. Most of them were \u201coff the radar\u201d \u2013 unpublicised but with strong reputations among the military. However, they were considered non-fundable by traditional VC standards.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"960\" src=\"http:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/a891296f-fae8-4fa2-aefd-fe7e0bc5475b.webp\" alt=\"Two people in suits without ties pose for a photo in front of the stand\" class=\"wp-image-7038\" srcset=\"https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/a891296f-fae8-4fa2-aefd-fe7e0bc5475b.webp 1280w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/a891296f-fae8-4fa2-aefd-fe7e0bc5475b-300x225.webp 300w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/a891296f-fae8-4fa2-aefd-fe7e0bc5475b-1024x768.webp 1024w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/a891296f-fae8-4fa2-aefd-fe7e0bc5475b-768x576.webp 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><figcaption class=\"wp-element-caption\">Together with Brooks Newmark at the Black Seas Security Forum in Odesa | Photo by Ivan Matveichenko<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">We really liked these people and their ideas. So instead of launching a fund, we built a company that could integrate these teams and run the business side for them. They focus on engineering and product development\u2014what they\u2019re good at and love doing. We take care of operations, business development, and fundraising\u2014what we\u2019re good at. The $5 million from Brooks Newmark will mainly go toward supporting the management team and M&amp;A activity.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>How Trypillian operates<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Trypillian isn\u2019t a pure-play product startup or a classic investment firm. Think of it as a central structure that functions as both a project and administrative office for multiple defence startups.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the managing entity, we\u2019ll focus on key functions \u2013 project management, finance, legal, corporate structuring, capital raising, PR, GR, sales and marketing. We\u2019ll also handle early-stage R&amp;D like MVPs and prototyping. Scaling and manufacturing will be handled by our portfolio companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We currently have 12 staff in Ukraine and three in London. Trypillian\u2019s internal team will stay under 30\u201350 people. But our long-term goal is to build a full-fledged corporation that stays relevant post-war.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Trypillian\u2019s deep strike drone<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Our main in-house R&amp;D effort is a fixed-wing kamikaze drone capable of deep strikes into enemy territory. The deep strike concept is built around forcing the enemy to choose between two bad options: spend 30\u201350 times more to shoot down a relatively cheap drone, or let it strike ground targets unhindered. This is economic asymmetry \u2013 where defence costs vastly outweigh attack costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re currently at the prototype stage, with test flights planned this month. We won\u2019t unveil it publicly until combat deployment begins.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"822\" src=\"http:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/img_20250217_130212_372.webp\" alt=\"Deep Strike drones in a warehouse in an isolated area\" class=\"wp-image-7042\" srcset=\"https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/img_20250217_130212_372.webp 1280w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/img_20250217_130212_372-300x193.webp 300w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/img_20250217_130212_372-1024x658.webp 1024w, https:\/\/stage.thedefender.media\/wp-content\/uploads\/2025\/07\/img_20250217_130212_372-768x493.webp 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><figcaption class=\"wp-element-caption\">Deep Strike drones used for strikes against Russia: the Lutyi drone, UJ-22 Airborne, Beaver and jet UAV | Photo: The Times<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">I can\u2019t disclose the cost yet \u2013 it will vary depending on configuration and client. We\u2019re prepared to supply the Ukrainian military at production cost. The drone will come in both high-precision and simplified, budget-friendly variants. Overall pricing is in line with other Ukrainian deep strike systems \u2013 but ours is designed to be interceptable only by high-end air defences, giving us a major economic advantage. One key reason for that: our drone\u2019s unprecedented flight altitude.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The drone is being co-developed by a five-company consortium \u2013 both Ukrainian and international. Trypillian leads the project, but we\u2019re backed by strong technical partners, most of whom have a direct or indirect connection to Ukraine through co-founders, heritage, or relationships.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Other products in the pipeline<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Alongside our own development, we\u2019re pursuing M&amp;A and partnerships. We\u2019ve already acquired two teams and are preparing to launch two products with them: an FPV drone and a bomber, due by the end of summer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the time of acquisition, these teams had working prototypes undergoing certification and field trials with Ukrainian forces. But they lacked production capacity. We\u2019ll handle mass production through professional partners. These products will have their own brands but sit under the Trypillian umbrella.<\/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=\"http:\/\/stage.thedefender.media\/en\/insights\/piotrovski-defence-tech-go-abroad\/\"><strong>Read more: <\/strong>Dwarf Engineering CEO Vladyslav Piotrovskyi on the importance of drone standardisation<\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re not aiming for engineering novelty in these two products. Instead, we\u2019re focused on efficiency and business viability. FPV drones and bombers aren\u2019t highly complex, but they must be constantly adapted to battlefield realities and cost pressure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re applying our business know-how to make products slightly better \u2013 cheaper, more reliable, or tailored to specific niches. That\u2019s our way of staying relevant on the front line. As an infantryman myself, I know that most soldiers rarely see high-tech, AI-powered systems. For them, it\u2019s all about FPVs and \u201cBaba Yaga\u201d-type bombers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Our entire product line is designed first and foremost for the Ukrainian Armed Forces. Development is joint: we receive feedback after every mission, review what worked and what didn\u2019t. We\u2019re also in talks with international partners, and there\u2019s clear interest abroad. But our main customer will remain domestic for the foreseeable future.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Challenges in valuing Ukrainian defence tech startups<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">We plan to continue expanding Trypillian\u2019s portfolio. Most of Brooks Newmark\u2019s $5 million will go toward acquisitions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The market currently suffers from valuation imbalances: some teams are overly ambitious, especially given their early stage. We roughly split founders into two categories.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First, the A-class founders. They\u2019re rare but very strong. All the VCs want them. They can command high valuations \u2013 and rightly so.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Second, technically gifted engineers with good ideas but limited business knowledge. Some are open to dialogue, feedback, and compromise. We offer them a model where Trypillian invests in product development, they receive equity and a salary, and we bring the product to market together.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Others are unwilling to compromise and insist on keeping 100% ownership. Unfortunately, they\u2019re hard to work with. From our experience: those who declined to collaborate a year ago are still where they were. Those who joined us have moved forward.<\/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=\"http:\/\/stage.thedefender.media\/en\/insights\/doudays-why-it-leaders-go-to-defence-tech\/\"><strong>Read more: <\/strong>From civilian to defence tech: Himera\u2019s Misha Rudominsky, Roboneers\u2019 Anton Skrypnyk and Oko Camera\u2019s Yevhen Syvachenko<\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">We believe consolidation in Ukraine\u2019s defence tech market is inevitable. While active combat continues, the priority is supporting the military. Business goals are secondary. That will change after the war ends and domestic demand drops. Then, we\u2019ll focus on acquiring Ukrainian companies that struggle to enter foreign markets on their own. We want to help them scale internationally under the Trypillian brand.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Who we\u2019re hiring<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019re still a small team, but we\u2019re actively hiring. Trypillian is currently recruiting for hardware engineers, DevOps, QA, PR and marketing roles. If you have relevant experience, please send us your CV \u2013 we\u2019ll respond to everyone.<\/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=\"http:\/\/stage.thedefender.media\/en\/categories\/sections\/defence-tech-jobs\/\"><strong>Don&#8217;t miss it:<\/strong> A weekly selection of the latest vacancies in Ukrainian defense tech<\/a><\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Most of our team are veterans, active-duty soldiers, or their family members. If you\u2019re a veteran, please get in touch. We\u2019ll either have a role for you now \u2013 or soon. Either way, we\u2019ll find a way to work together.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has already closed two deals and aims to become a \u201cdefence startup corporation\u201d<\/p>\n","protected":false},"author":3,"featured_media":7037,"template":"","tags":[709,127,1728,793,229,653],"class_list":["post-7044","insights","type-insights","status-publish","has-post-thumbnail","hentry","tag-brooks-newmark","tag-drones","tag-investments","tag-ivan-matveychenko","tag-startups","tag-trypillian","pmpro-has-access"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Trypillian will spend $5M and what its first three products will be: a conversation with CEO Ivan Matveichenko - Defender Media<\/title>\n<meta name=\"description\" content=\"The company has already closed two deals and aims to become a \u201cdefence startup corporation\u201d | Read more on Defender Media\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Trypillian will spend $5M and what its first three products will be: a conversation with CEO Ivan Matveichenko - 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