Launch · 08 Sep · —
Kongsberg NanoAvionics presented the largest and heaviest microsatellite system they have developed.
Launch · 07 Sep · —
ICEYE has partnered with Sompo Japan Insurance to deploy its Flood Insights solution for faster flood claims processing.
Exit · 07 Sep · —
Surfshark has acquired the U.S. technology company Optery for an undisclosed amount.
Launch · 07 Sep · EUR 3.0M
SSH Communications Security signed an agreement with a large bank to implement Zero Trust architecture, valued at nearly three million euros over three years.
Exit · 07 Sep · —
Surfshark Holding BV has acquired a controlling stake in the U.S. personal data removal company Optery.
Funding · 04 Sep · —
Creoir has raised seed funding from Gungnir Capital to commercialize its AI-powered voice control system for defense applications.
Hire · 04 Sep · —
SSH announced a CEO appointment.
Launch · 03 Sep · —
Handwave has expanded its partnership with Visa to support the rollout of palm-based biometric payment solutions in Europe.
Launch · 03 Sep · —
Lightspace Technologies launched augmented reality glasses designed for military applications in partnership with Rheinmetall Electronics UK.
Hire · 03 Sep · —
Sensofusion plans to hire one hundred new employees, a significant portion of whom will be based in Finland.
Hire · 03 Sep · —
Lars Bell has been appointed as the new CEO of SSH, succeeding Rami Raula who is retiring.
Exit · 03 Sep · —
Lightspace Technologies was acquired by the Finnish defense and security technology group Summa Defence in 2024.
Funding · 03 Sep · EUR 2.3M
Lightspace Technologies received a grant of €2.3 million from the European Innovation Council's Accelerator program to support its augmented reality innovations.
Exit · 02 Sep · —
Pistachio acquired the technology of Hugin Cybersecurity out of bankruptcy.
Exit · 02 Sep · —
Pistachio has acquired Hugin.io to expand its offerings into cybersecurity compliance.
Launch · 02 Sep · —
Terma will deliver a nationwide counter-drone system to the Danish defense, enhancing the response to drone threats through AI-supported data processing.
Launch · 02 Sep · —
LMT Defence has developed the first 5G military testing environment in Europe, which serves as a platform for NATO allies to test future technologies.
Launch · 30 Aug · —
Precise Biometrics is merging with Fingerprint Cards to create a company with broader technology and a larger customer base.
Exit · 29 Aug · —
Dencrypt was acquired by Terma, a defense technology company, enhancing Terma's product offerings.
Launch · 28 Aug · —
ICEYE is partnering with The Water Institute to combine satellite-based flood observations with predictive flood modeling for governments and insurers.
Exit · 26 Aug · —
Cyberpilot has been sold to a Swiss IT company.
Launch · 26 Aug · —
NestAI is expanding its operations to Sweden, planning to open a local office in Stockholm by 2027 and assemble a team of over 50 engineers and researchers in the Nordic and Baltic regions.
Launch · 26 Aug · —
Systematic has won a contract to provide its library system Cicero to approximately 170 schools in Stockholm, marking its largest international school library contract to date.
Funding · 26 Aug · EUR 389K
Valkyr Defense Systems raised 4.3 million kronor in a funding round, with I Love Lund taking a minority stake.
Hire · 26 Aug · —
Timo Ahopelto has been appointed as the chairman of the board of Sensofusion, a company known for developing drone defense systems. This appointment is part of the company's preparations for an IPO.
Hire · 26 Aug · —
Nest AI plans to build a Swedish team of over 50 engineers and researchers in 2027, likely establishing an office in Stockholm.
Launch · 25 Aug · EUR 14.0M
Insta Group has launched a multi-year contract to supply FPV drones to the Defense Forces, worth 14 million euros, for training purposes across Army units.
Launch · 24 Aug · —
Insta Group and Tencore are collaborating to produce unmanned ground vehicles in Finland, aiming to enhance production capacity and support Ukraine's defense needs.
Funding · 24 Aug · EUR 2.0M
PDKinematics secured 2 million euros in funding in the first half of 2026.
Launch · 21 Aug · —
MyDefence and Terma are initiating a collaboration to integrate their technologies for anti-drone solutions.
Launch · 20 Aug · —
Innokas signed a letter of intent to manufacture drones for the Ukrainian armed forces in Finland, collaborating with Airlogix.
Hire · 19 Aug · —
Petra Klein has joined Syndis to lead development and operations in the Swedish market and support expansion in the Nordic countries.
Launch · 19 Aug · —
Systematic forms a strategic partnership with French defense company Thales for Denmark's long-range ground-based air defense.
Funding · 19 Aug · EUR 409K
Broswarm attracted an investment of 409 thousand euros from a group of business angels.
Launch · 17 Aug · —
Tesonet will develop a 40,000 sq. m multifunctional quarter in Kaunas.
Funding · 14 Aug · —
Sasha received a new capital injection for international growth.
Hire · 14 Aug · —
Sasha hires former Snap executive Christian Mogensen after new investment round.
Exit · 13 Aug · —
CyberPilot has been sold to SEPPmail, a large Swiss platform for secure email communication.
Launch · 12 Aug · —
Nord Security is moving to a new office in the 'Hermanas' business center, expanding its operations in Kaunas.
Launch · 10 Aug · —
3P Defence's laser anti-drone system 'OVR-Guard S1' has been selected for the European Union Defence Innovation Scheme (EUDIS) business accelerator, moving closer to product development and production launch.
Funding · 07 Aug · EUR 2.7M
Hemla has raised 30 million kronor at a valuation of 130 million kronor, backed by notable investors including Flat Capital and others.
Launch · 06 Aug · —
Yubico launched YubiKey 5.8, enhancing hardware-based authentication to include verified authorization for critical decisions.
Hire · 05 Aug · —
Tor Aleksander Birk has joined Stendr as Principal Hardware Engineer, bringing experience from Remarkable and Squarehead Technology.
Launch · 05 Aug · —
Unmanned Defense Systems launched significant updates to its FORECASTER ISTAR reconnaissance drone, including an RF detection system and remote mission control capabilities.
Exit · 04 Aug · —
Patria Latvia has acquired the remaining shareholding in Defence Partnership Latvia, becoming its sole owner.
Launch · 03 Aug · —
Pdkinematics is developing precision targeting systems that help drones hit targets more accurately even when GPS signals are blocked.
Launch · 01 Aug · —
Galvatek is expanding to Texas and establishing a unit in Houston, Texas, in August 2026.
Hire · 01 Aug · —
Michael Le Gerstrøm Rode has been appointed as the new CEO of Partisia Quantum, which has become an independent company as of August 1, 2026.
Launch · 28 Jul · —
SubMerge Baltics signed a cooperation memorandum with Naval Group for the integration of its autonomous underwater drones into Naval Group's ships.
Hire · 24 Jul · —
Torun Larsen has joined Tundra Drone as a key hire responsible for production and scaling.
Funding · 24 Jul · EUR 652K
Tundra Drone raised 7.1 million NOK to build the team and prepare for production.
Funding · 23 Jul · —
Dropla Tech has secured an undisclosed investment from MITS Capital to support its next phase of growth.
Launch · 21 Jul · —
PDKINEMATICS is preparing to launch a new technology addressing critical radio communication issues on the battlefield, aimed for testing and application in Lithuania and Ukraine later this year.
Launch · 16 Jul · —
Patchstack has partnered with Hostinger to integrate continuous open-source vulnerability management for Node.js hosting.
Launch · 15 Jul · —
Blue Bridge launches a new Security Incident Management service to assist organizations in managing cyber incidents effectively.
Launch · 14 Jul · —
NestAI is launching AI models for defence to help Europe reduce reliance on foreign providers.
Hire · 13 Jul · —
Daiva Budrikė joins the management team as Marketing Director.
Launch · 13 Jul · —
Silmor developed an innovative thermal and visual camouflage material as its first proprietary dual-use product, co-financed by the European Regional Development Fund and the state budget, in collaboration with the University of Latvia's Institute of Solid State Physics.
Launch · 08 Jul · —
SUBmerge Baltic signed a memorandum of cooperation with Naval Group to integrate their underwater drones with Naval Group's control systems, enhancing interoperability and expanding market applications.
Hire · 07 Jul · —
Hugrún Helga Stefánsdóttir has been appointed as the new Marketing Manager for Defend Iceland, focusing on enhancing the company's marketing strategy.
Launch · 01 Jul · —
Sovera Security is launching an AI-native platform aimed at providing European companies with control over data and security decisions.
Funding · 17 Jun · EUR 2.0M
PDKINEMATICS received funding through the 'Defense Innovation Vouchers' to develop advanced precision targeting systems for military use.
Funding · 09 Jun · EUR 450.0M
ICEYE raised exactly €450 million in primary Series F financing led by General Atlantic at a valuation above €10 billion; together with a secondary placement, the overall transaction exceeded €1 billion.
Launch · 08 May · —
DefsecIntel has delivered three mobile surveillance systems to enhance border surveillance capabilities.
Exit · 07 May · —
MW Group has acquired 60% of Link 22, a cybersecurity company.
Funding · 07 May · EUR 30.0M
SWEBAL raises €30 million to build Sweden’s first TNT facility and strengthen NATO ammunition supply.
Launch · 01 May · —
Metaktik has launched a new technology for military use, integrating flexible antennas into vessels and vehicles.
Funding · 15 Apr · EUR 4.8M
Stendr raised EUR 4.8M in pre-seed.
Funding · 14 Apr · EUR 15.0M
Kelluu raised EUR 15.0M in Series A, led by NATO Innovation Fund.
Exit · 02 Apr · —
Atol Aviation, acquisition by Sensofusion.
Funding · 30 Mar · EUR 1.0M
Aalto University spin-off Metaktik secured EUR 1M in pre-seed funding backed by Maki.vc to commercialise lightweight metasurface antennas for defence, aerospace and telecom markets.
Funding · 24 Feb · EUR 30.0M
Frankenburg Technologies raised EUR 30.0M in Series A, led by Plural.
Funding · 15 Feb · EUR 250K
Natrix raised EUR 250k in pre-seed.
Funding · 08 Dec · EUR 150.0M
ICEYE raised €150 million in new equity led by General Catalyst at a €2.4 billion valuation; a separate €50 million secondary sale for early investors accompanied the transaction.
Exit · 08 Dec · EUR 50.0M
ICEYE completed a €50 million secondary share sale for early investors alongside its separate €150 million primary equity round.
Funding · 20 Nov · EUR 100.0M
NestAI raised EUR 100.0M in strategic.
Funding · 01 Nov · EUR 540K
CBRX raised EUR 540k in pre-seed.
Funding · 31 Oct · EUR 1.1M
Luna Robotics raised €1.08 million from Coinvest Capital, Plug & Play EMEA Ventures GmbH, and international business angels to advance its defense tech innovation.
Funding · 20 Oct · EUR 30.0M
Vilnius based nexos.ai (Nexus AI), founded by Nord Security co-founders Tomas Okmanas and Eimantas Sabaliauskas, raised a EUR 30M Series A led by Index Ventures and Evantic Capital, with seed backers Creandum and Dig Ventures also participating. The round valued the company at roughly EUR 300M, six months after its seed round.
Funding · 20 Oct · EUR 30.0M
nexos.ai raised EUR 30.0M in Series A.
Funding · 29 Aug · EUR 4.7M
Moxso raised EUR 4.7M in seed, led by Seed Capital.
Funding · 19 Aug · EUR 2.4M
Dropla Tech, a Danish-Ukrainian startup, raised EUR 2.4 million in a pre-seed round backed by Maj Invest Holding, EIFO, and Final Frontier to develop its AI based mine and explosive detection technology.
Funding · 01 Aug · EUR 3.6M
Handwave raised EUR 3.6M in seed, led by Practica Capital.
Funding · 03 Jul · EUR 2.5M
Nordic Air Defence raised EUR 2.5M in pre-seed, led by Inflection.
Funding · 19 Jun · EUR 41.1M
Business Finland awarded ICEYE €41.1 million for R&D, comprising €5.7 million in non-dilutive grants and €35.4 million in development loans, as part of ICEYE's larger investment program.
Funding · 06 Jun · EUR 5.6M
Lendurai raised EUR 5.6M in seed.
Funding · 01 Jun · EUR 2.0M
Repsense raised EUR 2.0M in seed.
Funding · 28 Mar · EUR 4.0M
Frankenburg Technologies secured EUR 4M, split equally between Blossom Capital II LP and existing investor Shellona Ltd.
Launch · 25 Feb · —
Natrix's modular unmanned ground platforms began operating in Ukraine, carrying frontline supplies and evacuating wounded personnel.
Funding · 22 Jan · EUR 7.7M
nexos.ai raised USD 8M led by Index Ventures, with participation from Creandum, Dig Ventures, and technology-industry angel investors.
Funding · 15 Jan · EUR 7.8M
Nexus AI raised €30 million in funding, ranking second by investment size in Lithuania.
Exit · 01 Jan · —
Coana was sold to American Socket in 2025, integrating its technology and employees into the larger platform.
Funding · 18 Dec · EUR 61.9M
ICEYE closed a $65 million debt-and-equity extension to its April growth round, bringing its total raised during 2024 to $158 million.
Funding · 12 Nov · EUR 1.2M
Nordic Air Defence secured EUR 1.2 million led by SNÖ Ventures in the second close of a strategic round to advance its supply-chain-independent drone-defence technology.
Funding · 20 Sep · EUR 4.5M
Patchstack raised a USD 5 million Series A round backed by Karma Ventures, G+D Ventures and Emilia Capital, the investment firm founded by Yoast co-founders. Funds were earmarked for product development and a sales and marketing team.
Funding · 24 May · EUR 3.2M
Lithuanian drone maker Unmanned Defense Systems raised EUR 3.2 million from private investors to accelerate its swarm drone technology and AI-based battlefield management system integration. Coinvest Capital led the round alongside business angels and the NGL angel syndicate.
Funding · 17 Apr · EUR 87.4M
ICEYE signed an oversubscribed $93 million growth funding round led by Finnish sovereign wealth fund Solidium Oy to expand its SAR constellation and data products.
Funding · 28 Nov · EUR 913K
Keystrike has successfully secured $1 million in pre-seed funding to bolster its sales and marketing initiatives, particularly focusing on expanding into the United States cybersecurity market.
Launch · 28 Nov · —
Keystrike's inaugural product, Sanctum Guard, is slated for a release in early December and is already operational in several enterprises.
Funding · 01 Nov · EUR 800K
Repsense raised a further EUR 800,000 pre-seed round from Iron Wolf Capital, Coinvest Capital, Baltic Sandbox Ventures and private angels for its public-information analytics platform.
Hire · 01 Aug · —
Jani Välkky will become CEO of Galvatek as Lasse Vilminko moves to Houston, Texas.
Funding · 21 Feb · EUR 500K
Repsense secured EUR 500,000 in a round led by Iron Wolf Capital and Coinvest Capital to grow its data-driven digital-reputation platform.
Funding · 03 Feb · EUR 120.5M
ICEYE closed a $136 million Series D led by Seraphim Space to expand its SAR constellation, catastrophe products, analytics, and global operations.
Exit · 01 Jun · —
Livonia Partners agreed to sell its Santa Monica Networks divisions in Lithuania and Latvia to Latvian mobile operator LMT, pending regulatory approval. SMN's Lithuanian operations had sales of EUR 12.4 million in the prior year.
Funding · 22 Sep · EUR 74.1M
ICEYE closed an $87 million Series C led by True Ventures, with a significant investment from OTB Ventures, to expand its SAR satellite constellation and imaging services.
Funding · 24 May · EUR 29.0M
ICEYE raised $34 million in Series B financing led by True Ventures to expand analytics, develop its SAR technology, and fund additional satellite launches.
Funding · 25 Sep · EUR 1.0M
ICEYE announced $1.2 million in new funding led by Seraphim Capital to scale development of its SAR microsatellite technology for upcoming launches; ICEYE explicitly described it as new funding after the separate $13 million financing announced the previous month.
Funding · 23 Aug · EUR 11.0M
ICEYE announced $13 million in additional financing, including an $8.5 million round led by Draper Nexus and further funding from Finland's Tekes agency, to scale manufacturing and satellite launches.
Exit · 01 Mar · —
Livonia Partners acquired a controlling stake in Santa Monica Networks' Lithuanian and Latvian operations in March 2017, with company management retaining a significant minority stake. The Baltic division generated EUR 23.4 million revenue in 2016 and employed 52 people in network and IT security solutions.
Funding · 12 Nov · EUR 2.6M
ICEYE raised a $2.8 million Series A led by True Ventures, with Lifeline Ventures and Founder.org participating, to help launch its first radar-based microsatellites.